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>> The NASDAQ composite ending Thursday at another record high before two of tech's biggest players, Google, and Amazon, both reported staggeringly huge growth. Which Reuters' Gglobal Tech Editor, Jonathan Weber says, justifies this year's boom in tech stocks.>> The big takeaway I think, is that the big tech companies are doing extraordinarily well.
The earnings from Amazon and Google both, were exceptional. They show a very strong growth for companies that are that large, kind of 20 to 30% year on year growth. For companies that size is just something you hardly ever see. So the message really is that tech is booming and a lot of the benefit of that is actually flowing to these giant companies.
So the rich are getting richer in the tech world.>> Microsoft also reporting earnings Thursday afternoon, but it didn't quite deliver the kind of gang buster results of its two rivals. But Weber says it's still a consistently profitable company. As all three have such diverse businesses that seem to be firing on all cylinders.
>> Each company has a slightly different set of dynamics, but certainly, Amazon continues to grow at an extraordinary rate, both in its retail business, its AWS business, advertising business. Really almost everything and their starting show some profits, traditionally, Amazon has been a company that doesn't show a lot of profit.
They tend to reinvest in the business. But they're now continuing to both show profit and also extraordinary growth. Google on the other hand, has always generated extraordinarily high profits. And they seem to be able to continue that, even as they also continue to grow at over 20% a year.
>> Shares of Google and Amazon both spiking in extended trading.