The Top Ten European Technology Companies: Irish Medtronic Taking a Lead
The technology sector is going through one of the worst first halves in post-war history on the stock market, also Europe endures a major impact by the war in Ukraine.
The chart comprises 2021 data introduced firstly with a few changes. Previous leader the German software giant SAP has been skipped by a technological company focusing on healthcare Medtronic. Correspondingly, the Swiss-Swedish ABB improved its position to become the 4th avoiding deep market capitalization decline.
“Comparing the chart differences for the first half of the year, it seems that typical software or online platforms providers were hit harder by the market decline than technological companies related to ‘material’ industries like to healthcare or machinery,” commented Tomas Kolomaznik, the head analyst of BCM Begin Capital Markets, the company that introduced this chart firstly in January and presented its study on the European technology leaders.
“While the years 2020 and 2021 have been favourable to the technology sector, the development since the beginning of this year has gone in the opposite direction. To a certain extent, the gradual fading of the coronavirus pandemic, but also the imminent onset of a global economic recession due to record inflation, and last but not least the ongoing war in Ukraine are to blame,” added Tomas Kolomaznik.
The ranking of the top ten technology players in Europe is based on market capitalization but there are other factors to be listed on the chart like company's position in its market segment and the development of quarterly financials.
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