The MAGA here is a popular reference that Trump uses in his speech.
And hours before Trump's MAGA moment on Tuesday, federal regulators antitrust announced plans to review past acquisitions by the largest tech companies, including all the members of Trump's trillion's club.
Trump showed a sheet of paper with the MAGA letters representing the four top tech companies, joking with Fox News correspondent John Roberts that he should report that on the network. "For 144 days, we set a record stock market". MAGA stands for Make America Great Again.
The sign alluded to a recent achievement made by Google's parent company Alphabet, which became the fourth American company to hit a market cap of $1 trillion last month.
Microsoft, Amazon, Alphabet and Apple have performed extremely well on the stock market this year, generating about 67% of the S&P 500's year-to-date returns. Amazon has accused him of personally interfering in the $10 billion Joint Enterprises Defense Infrastructure cloud contract of the defense department that was awarded to Microsoft ahead of the e-commerce giant's cloud subsidiary. The year 2019 was reportedly really good for all the four tech companies as far as stock market performance is concerned. The CNBC report states that the four companies combined added $520 billion in market capitalisation.
The president touted the success of tech companies after signing the Supporting Veterans in STEM Careers Act in the Oval Office on Tuesday. He, in fact, told Tim Cook that the company needs to do more manufacturing in the U.S. and not in China.