In some cases, such as the video conferencing software company Zoom, firms may have also found themselves in the right place at the right time as the world turned virtual almost overnight.
Men work in an Amazon fulfillment center in New York, Feb. 5, 2019."If you wanted to make this as simple as you could, it's any company that benefits people who were stuck at home," Randy Frederick, the vice president of trading at the Charles Schwab Center for Financial Research, told ABC News."The vast majority of all people who can are working from home and so they have more time to do things that you would typically do at home versus going elsewhere.
Google's parent company, Alphabet Inc., reported a revenue of $38.3 billion in the second quarter, largely driven by its growth in cloud-computing, according to a company statement. Alphabet stock has risen 50% since mid-March. "The second piece is that the economy, interest rates being very low, the stimulus packages on a monetary and fiscal side, have sort of separated the haves from the have-nots," he added."A giant tech company has the ability to borrow money at the lowest rate in, essentially forever.
"What we have seen from some industries and from some companies is an awful lot of creativity in terms of how do I reposition my business, to be able to continue to operate in an environment where there are very different rules," Ben Nelson, an analyst and vice president at Moody's Investor Services told ABC News.
Home Depot, one of a handful of retailers that avoided shutdown orders in many places because of their essential status, also saw its market capitalization increase by some 88% since the March bottom. The company was also quick to adapt curbside pickup options and benefited from Americans starting new home improvement projects.
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