Of all the FAANG stocks, Apple is by far and away the closest to a $1trn market capitalisation. This year will soon see the release of the Apple Homepod, which is the company’s first foray into smart home devices, an area currently dominated by Amazon’s Echo and the Google Home. However, Alphabet – Google’s parent company – are doing far more than just building home devices. The conglomerate is leading autonomous vehicle development through its subsidiary, Waymo, while another subsidiary, DeepMind, is drawing ever closer to deploying its general purpose AI. Last year, Google released its TensorFlow AI toolkit, which allows developers to leverage AI solutions when building software. Meanwhile, Facebook continues to dominate the social media world. Mark Zuckerberg’s acquisition of Instagram has proven particularly prescient, given the migration of Generation Z away from Facebook and onto the photo-sharing app.
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