Three tech giants − Apple, Microsoft and Google owner Alphabet − reported combined profits of more than $50 billion in the April-June quarter, underscoring their unparalleled influence and success at reshaping the way we live.
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Although these companies make their money in different ways, the results served as another reminder of the clout they wield and why government regulators are growing increasingly concerned about whether they have become too powerful.
The massive profits pouring into each company also illustrated why they have a combined market value of $6.4 trillion -- more than double their collective value when the COVID-19 pandemic started 16 months ago.
