After a strong start to 2024, Microsoft (NASDAQ:MSFT) is the most valuable company in the world. It passed longtime rival Apple (NASDAQ:AAPL) in January and became just the second company to reach a market capitalization of $3 trillion. Seven of the largest companies have a market cap of at least $1 trillion.
While tech companies dominate the top of the stock market, there are other sectors represented, including oil, insurance, medical companies, payment networks, and luxury brands. Read on to see the 20 biggest companies and where they stand as of May 2024.
Largest companies by market cap
1. Microsoft
Expand
NASDAQ: MSFT
Microsoft
Today’s Change
(0.74%) 3,16 US$
Current Price
430,16 US$
- Market cap: $2.89 trillion (as of May 1)
- Revenue (TTM): $236.58 billion
- Gross profit (TTM): $165.36 billion
- Five-year annualized return: 26.34%
- Year founded: 1975
Considering the popularity of the Windows operating system, it’s no surprise that Microsoft has consistently ranked as one of the largest companies in the world. Over 70% of computers use Windows, according to Statcounter. While it’s most famous for Windows, Microsoft also has a diverse selection of products and services that has helped to build on its success, including:
- Office Suite software
- Azure cloud platform
- Xbox video game consoles
- Surface computer and tablets
Microsoft has been making a big push into artificial intelligence (AI) technology. It invested $10 billion into OpenAI, creator of ChatGPT, and it has launched an AI-powered digital assistant, Microsoft Copilot.
2. Apple
Expand
NASDAQ: AAPL
Apple
Today’s Change
(1.66%) 3,10 US$
Current Price
189,98 US$
- Market cap: $2.63 trillion (as of May 1)
- Revenue (TTM): $385.71 billion
- Gross profit (TTM): $173.67 billion
- Five-year annualized return: 27.14%
- Year founded: 1976
Tech giant Apple is proof of how far high-quality products and strong brand loyalty can go. It first became the world’s most valuable company on Aug. 9, 2011, just 15 days before Steve Jobs resigned as CEO. It held the top spot for the better part of the last decade, and still isn’t that far behind Microsoft. Apple also holds the distinction of being the first company to hit market caps of $1 trillion, $2 trillion, and $3 trillion.
Apple built its success off sales of its wildly popular products, including the iPhone, MacBook, and AirPods. Its latest major release is a mixed-reality headset, the Apple Vision Pro. It has also branched out into services, including its Apple TV+ streaming service.
On a negative note, the U.S. Department of Justice filed an antitrust lawsuit against Apple in March of this year. It alleges that Apple illegally maintains a monopoly over smartphones through contractual restrictions on developers.
3. Nvidia
Expand
NASDAQ: NVDA
Nvidia
Today’s Change
(2.57%) 26,70 US$
Current Price
1 064,69 US$
- Market cap: $2.16 trillion (as of May 1)
- Revenue (TTM): $60.92 billion
- Gross profit (TTM): $44.30 billion
- Five-year annualized return: 78.71%
- Year founded: 1993
Tech company Nvidia (NASDAQ:NVDA) develops and manufactures graphics processing units (GPUs) originally used for PC graphics and video games. Its GPUs are in high demand because they play a key role in training and operating AI applications. They’ve also been used for mining cryptocurrency (using computer processing power to validate crypto transactions and earn rewards).
The AI boom has sent Nvidia stock soaring. On Feb. 22, 2024, its market cap increased by $277 billion, the largest one-day gain in Wall Street’s history.
4. Alphabet (Google)
Expand
NASDAQ: GOOGL
Alphabet
Today’s Change
(0.83%) 1,44 US$
Current Price
174,99 US$
- Market cap: $2.05 trillion (as of May 1)
- Revenue (TTM): $317.92 billion
- Gross profit (TTM): $181.82 billion
- Five-year annualized return: 22.81%
- Year founded: 1998 (Google), 2015 (Alphabet)
Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) is the holding company created through a restructuring of Google in 2015. Of course, Google is most well-known as a search engine, becoming so famous that the name is synonymous with online searches. That’s just one of Alphabet’s many widely used products, which also include:
- Email service Gmail
- Video site YouTube
- Navigation apps Waze and Maps
- Pixel smartphones
On a negative note, Alphabet has been embroiled in antitrust lawsuits. The U.S. Department of Justice claims that Alphabet made anti-competitive deals with multiple companies, including Apple and Mozilla, to make its search engine the default option in their browsers. Epic Games won an antitrust trial claiming that Alphabet has an illegal monopoly over apps in its Google Play store.
- Saudi Arabian Oil
- Market cap: $1.94 trillion (as of May 1)
- Revenue (TTM): $494.94 billion
- Gross profit (TTM): $317.70 billion
- Year founded: 1933
*Converted from Saudi riyals.
Saudi Arabian Oil, also known as Saudi Aramco, is an energy and chemicals company. Owned by the Saudi Arabian government, it has the largest daily oil production and the second-largest proven crude oil reserves of all oil companies.
Since Saudi Aramco is largely dependent on oil prices, it can go through significant ups and downs. Heavy oil demand helped it claim the top spot in terms of market cap early in May of 2022, but when demand fell, it was surpassed again. To diversify its portfolio, Saudi Aramco invested $500 million in a liquified natural gas (LNG) company, MidOcean Energy, in September 2023.
6. Amazon
Expand
NASDAQ: AMZN
Amazon
Today’s Change
(-0.17%) −0,30 US$
Current Price
180,75 US$
- Market cap: $1.82 trillion (as of May 1)
- Revenue (TTM): $574.79 billion
- Gross profit (TTM): $270.05 billion
- Five-year annualized return: 12.78%
- Year founded: 1994
E-commerce leader Amazon (NASDAQ:AMZN) started out as an online bookstore, which goes to show just how much its reach has expanded. It’s now the site where you can buy practically anything, and it’s the largest online retailer in the world.
The company’s Amazon Prime service has more than 200 million users worldwide. It’s also the largest cloud provider in the world with Amazon Web Services (AWS). And that’s only the tip of the iceberg. Amazon also has its Amazon Prime Video streaming service and video game streaming through Twitch, plus it owns the Whole Foods Market grocery chain.
Yet it isn’t all good news. The Federal Trade Commission (FTC) and 17 states filed an antitrust lawsuit against Amazon in September 2023 alleging that Amazon is a monopoly that uses anti-competitive practices to maintain its position. It remains to be seen how much of an impact the lawsuit will have, but it’s expected to be an uphill battle for the FTC.
7. Meta Platforms
Expand
NASDAQ: META
Meta Platforms
Today’s Change
(2.67%) 12,44 US$
Current Price
478,22 US$
- Market cap: $1.09 trillion (as of May 1)
- Revenue (TTM): $142.71 billion
- Gross profit (TTM): $116.31 billion
- Five-year annualized return: 17.60%
- Year founded: 2004
The company formerly known as Facebook rebranded in 2021 and announced a new focus on building the metaverse. The jury is still out on how successful the rebrand will be. For now, Meta Platform‘s (NASDAQ:META) biggest products are its social networks, Facebook, and Instagram.
It also owns WhatsApp and Messenger, and it has expanded into virtual reality with its Meta Quest 2 and its acquisition of Oculus. Meta makes the vast majority of its money from advertising, which accounts for over 96% of its revenue.
8. Berkshire Hathaway
Expand
NYSE: BRK.A
Berkshire Hathaway
Today’s Change
(0.58%) 3 580,00 US$
Current Price
615 900,00 US$
- Market cap: $861.89 billion (as of May 1)
- Revenue (TTM): $364.48 billion
- Gross profit (TTM): $70.95 billion
- Five-year annualized return: 13.08%
- Year founded: 1839
Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) started out as a textile company and remained in that business for more than a century, but it’s now known for its ties to legendary investor Warren Buffett. He began investing in Berkshire in 1962, and he took majority control in 1965.
Buffett has acted as chairman and CEO since then and converted Berkshire to a holding company in 1970. Charlie Munger served as vice chairman from 1978 until his passing in late 2023. While Berkshire’s main business is insurance (it owns one of the largest insurance companies, GEICO), Berkshire has also invested in companies across a range of industries.
9. Eli Lilly
Expand
NYSE: LLY
Eli Lilly
Today’s Change
(-0.13%) −1,02 US$
Current Price
807,43 US$
- Market cap: $738.51 billion (as of May 1)
- Revenue (TTM): $35.93 billion
- Gross profit (TTM): $30.11 billion
- Five-year annualized return: 48.03%
- Year founded: 1876
Founded by a chemist and Union Army veteran of the same name, Eli Lilly (NYSE:LLY) is one of the world’s largest pharmaceutical companies. Its main revenue drivers are diabetes drugs, and it was the first company to mass-produce insulin and the polio vaccine. Eli Lilly also manufactures antidepressants, most notably Prozac, along with weight-loss drugs.
Eli Lilly has rocketed up the ranks of the biggest companies. Less than a year ago, it was outside the top 20. But the company has recently hit record highs, in part thanks to the August 2023 acquisitions of Sigilon Therapeutics, Versanis Bio, and DICE Therapeutics.
10. Taiwan Semiconductor Manufacturing
Expand
NYSE: TSM
Taiwan Semiconductor Manufacturing
Today’s Change
(1.85%) 2,91 US$
Current Price
160,00 US$
- Market cap: $712.38 billion (as of May 1)
- Revenue (TTM): $71.39 billion
- Gross profit (TTM): $37.45 billion
- Five-year annualized return: 28.07%
- Year founded: 1987
Taiwan Semiconductor Manufacturing (NYSE:TSM), also known as TSMC, is a leader in semiconductor production and is Taiwan’s most valuable company. As such, it works with many of the leading global technology companies, including Apple and Nvidia. It could also stand to benefit from the growth of AI. It’s the largest contract chip manufacturer in the world, and the growing demand for AI chips should mean even more sales for TSMC.
Source: The Motley Fool
Recent Comments