Currently Empty: $0
The world’s 20 biggest tech companies are worth over $20 trillion in total. To put this in perspective, this is nearly 18% of the stock market value globally.
A Closer Look at The Top 20
Market capitalization (market cap) measures what a company is worth by taking the current share price and multiplying it by the number of shares outstanding. Here are the biggest tech companies according to their market cap on June 13, 2024.
| Rank | Company | Country/Region | Market Cap |
|---|---|---|---|
| 1 | Apple | U.S. | $3.3T |
| 2 | Microsoft | U.S. | $3.3T |
| 3 | Nvidia | U.S. | $3.2T |
| 4 | Alphabet | U.S. | $2.2T |
| 5 | Amazon | U.S. | $1.9T |
| 6 | Meta | U.S. | $1.3T |
| 7 | TSMC | Taiwan | $897B |
| 8 | Broadcom | U.S. | $778B |
| 9 | Tesla | U.S. | $582B |
| 10 | Tencent | China | $453B |
Apple is the largest tech company at the moment, having competed with Microsoft for the top of the leaderboard for many years. The company saw its market cap soar after announcing its generative AI, Apple Intelligence. Analysts believe people will upgrade their devices over the next few years, since the new features are only available on the iPhone 15 Pro or newer.
Microsoft is in second place in the rankings, partly thanks to enthusiasm for its AI software which is already generating revenue. Rising profits also contributed to the company’s value. For the quarter ended March 31, 2024, Microsoft increased its net income by 20% compared to the same quarter last year.
Nvidia follows closely behind with the third-highest market cap, rising more than eight times higher compared to its value at the start of 2023. The company has recently announced higher profits, introduced a higher dividend, and reported that its next-generation GPU chip will start generating revenue later this year.
AI a Driver of the Biggest Tech Companies
It’s clear from the biggest tech companies that involvement in AI can contribute to investor confidence.
Among S&P 500 companies, AI has certainly become a focus topic. In fact, 199 companies cited the term “AI” during their first quarter earnings calls, the highest on record. The companies who mentioned AI the most were Meta (95 times), Nvidia (86 times), and Microsoft (74 times).
Source: GWFM Research & Study
