I wanted to add to this list but as it turns out, all of the EU's top companies (the top x list starts at around $22B revenue) aren't tech companies; oil and gas, automotive, utilities and financial services are the main ones. Mind you the list is from 2015: https://en.wikipedia.org/wiki/List_of_largest_European_compa...
It's true, but perhaps it's also worth mentioning that Europe has a large number of small and medium sized companies in general and high tech companies in particular.
For instance, the Obama administration blocked the takeover of Aixtron by a Chinese company because Aixtron was so key to national security.
The US Attorney General recommended a few days ago that the US take a share in Ericsson and Nokia, because they are the main 5G equipment suppliers besides Huawei.
A recent takeover of Kuka, an industrial robot maker, has caused a lot of concern as well. Germany has a lot of small to medium sized high tech equipment makers that are mostly privatly owned.
Robert Bosch, the largest car parts manufacturer in the world, is not a publicly listed company and not usually classed as a tech company, but it does make some of the most high tech parts that go in to cars. It's certainly no less of a tech company than, say, Facebook.
Then of course there are companies like ARM, SAP, Siemens, ASML, Amadeus Group, Infineon, Vestas or Airbus. No, they are not the size of Apple and ARM is now owned by SoftBank.
You see the pattern? Europe doesn't have consumer tech. It does have a lot of high tech equipment makers and parts suppliers.
Europe is really bad at selling to consumers (apart from France's and Italy's luxury goods makers and traditionally auto makers that are now suffering as cars become software platforms), and that's exactly where network effects have created those giant tech companies that now dominate US stock indices.
So yes, I think Europe is in a pretty bad place right now when it comes to tech, but it's not quite as bad as what you might think if you're just looking at the biggest components of stock indices.
Compare to the US (2019 figures), it has Apple in 3rd place, Amazon on 5th, Alphabet on 15th, etc: https://en.wikipedia.org/wiki/List_of_largest_companies_in_t...