10 Biggest Companies in the World by Market Capitalization
Top companies by market capitalization in the dynamic landscape of the global economy are a barometer for understanding which sectors and businesses are leading the way. This article delves into the top 10 companies by market cap as of June 20, 2024, highlighting their sectors, financial performance, and strategic initiatives that have propelled them to the forefront of the market.
Let’s take a look at the top 10 companies in the world by market capitalization:
- Microsoft (MSFT)
Market Cap: $3.31 trillion
Revenue (TTM): $236.58 billion
Net Income (TTM): $86.18 billion
1-year Trailing Total Return: 32.50%
Exchange: Nasdaq
Year Founded: 1975
Worldwide developer and licenser of software, devices and services Microsoft Corporation is said to be the largest company globally in terms of market capitalization. The firm has diversified from its flagship Windows operating system and Office Suite software to cloud computing services, making it a leader in this area. Medium The shift towards cloud computing and artificial intelligence (AI) has been instrumental in boosting Microsoft’s bottom line significantly.
In his 2023 annual report Chairman and CEO Satya Nadella reemphasized his commitment to AI saying “Every customer solution area and every layer of our tech stack will be reimagined for an AI era. And that’s exactly what we’ve already begun to do.” This approach positions Microsoft for upcoming disruptions on its product lines such as search engines or Office suites based on AI integration.
2. Nvidia (NVDA)
Market Cap: $3.217 trillion
Revenue (TTM): $79.77 billion
Net Income (TTM): $42.60 billion
1-year Trailing Total Return: 200.64%
Exchange: Nasdaq
Year Founded: 1993
Nvidia Corporation has seen massive growth riding on its graphics processing units GPUs that play a central role in artificial intelligence machine learning applications. Their hardware initially designed for PC graphics and video gaming has become necessary in AI platforms, leading to a steep rise in the company’s market cap.
Nvidia momentarily took over Microsoft as the world’s most valuable company with its market cap hitting $3.335 trillion in June 2024. The stock market has taken notice of this, making it one of its darling stocks with a whopping return of 200.64% within the past year.
3. Apple (AAPL)
Market Cap: $3.215 trillion
Revenue (TTM): $381.62 billion
Net Income (TTM): $100.39 billion
1-year Trailing Total Return: 13.40%
Exchange: Nasdaq
Year Founded: 1976
Apple Inc. is a consumer technology giant that designs, manufactures, and sells a wide range of products like iPhones, iPads, Macs as well as wearables like Apple Watch. A strong customer base due to Apple’s ecosystem of products and services supports substantial revenue and net profit growth.
In June 2024, Apple launched its iPhones; iPads; and Macs with an AI functionality called Apple Intelligence which was integrated into them. Apple is therefore committed to remaining at the forefront of technology innovation by providing solutions that identify it as an industry leader globally.
Alphabet (GOOGL/GOOG)
Market Cap: $2.19 trillion
Revenue (TTM): $317.92 billion
Net Income (TTM): $82.41 billion
1-year Trailing Total Return: 44.20%
Exchange: Nasdaq
Year Founded: 1998
Alphabet Inc, which is parent company to Google, dominates the market for digital services through its search engine as well as Android OS, Chrome browser, Gmail, Google Drive, Google Maps and YouTube among others. The business also excels in terms of cloud services with Google Cloud and workspace collaboration tools.
It’s AI strategy relies heavily on the use of Gemini its deep learning model pointing to their commitment on incorporating AI to all parts of their product suite. This strategic direction has led to considerable rise in revenue and profits thereby cementing Alphabet’s place among top companies by market value.
Amazon (AMZN)
Market Cap: $1.94 trillion
Revenue (TTM): $590.74 billion
Net Income (TTM): $37.68 billion
1-year Trailing Total Return: 48.12%
Exchange: Nasdaq
Year Founded: 1994
Amazon.com Inc., a major online retailer worldwide for books, electronics and other products has diversified into cloud computing digital streaming and AI as well as others such as Amazon Web Services (AWS) offering cloud services to businesses, governments and research institutions.
The overwhelming number of products it sells online coupled with its dominance in online retailing have seen it grow its market capitalization immensely besides increasing revenues throughout since it invests greatly in artificial intelligence [AI] that propels high returns towards shareholders’ gains existences always remain innovative thus maintaining global brand position.
6.Saudi Arabian Oil Co.(2222) Market Cap: $1.78 trillion Revenue(TTM):$488.35billion Net Income(TTM):$116.77billion 1-year Trailing Total Return: -14.90% Exchange:
Tadawul(Saudi Stock Exchange) Year Founded: 1933
Saudi Arabian oil commonly known as Aramco is an integrated Oil and Gas Company based in Saudi Arabia while its upstream wing is involved in crude oil, condensate, gas and NGLs production; it is also involved in downstream segment that deals with refining and petrochemical manufacturing.
The company’s strategic importance within the global energy market combined with its enormous oil reserves makes it one of the most valuable companies globally. Notwithstanding recent poor performance, Aramco remains a major player in the oil and gas sector.
Meta Platforms (META)
Market Cap: $1.27T
Revenue (TTM): $142.71B
Net Income (TTM): $45.76B
1-year Trailing Total Return: 76.95%
Exchange: Nasdaq
Year Founded: 2004.
Meta is the new Facebook, with its Facebook Messenger, Whatsapp and Instagram being famous social media platforms. The company as well invests heavily on metaverse, a large virtual world that unites social media, online games, AR/VR and cryptocurrencies.
This strategic focus has seen the metaverse and VR products of Meta bring about significant growth in revenue. Its innovative ways of doing social media business as well as other digital interactions makes it a leader in technology field.
Berkshire Hathaway (BRK.A/BRK.B)
Market Cap: $884.87B
Revenue (TTM): $368.96B
Net Income (TTM): $73.42B
1-year Trailing Total Return: 19.90%
Exchange: NYSE
Year Founded: 1839.
Warren Buffet’s Berkshire Hathaway is a versatile conglomerate holding company for all types of businesses such as insurance, retailing, utility generation among others like freight rail transportation etc.
However, Berkshire Hathaway’s financials are impressive given its diverse portfolio which has contributed to its high market cap while following conservative investment strategies means they still remain efficient in their operations worldwide.
Eli Lilly and Company (LLY)
Market Cap: $84205 BN USD
Revenue (TTM): $35.93 BN USD
Net Income (TTM): $6.14 BN USD
1-year Trailing Total Return: 94.94%
Exchange: NYSE.
Year Founded: 1876.
Eli Lilly is an industry leader in pharmaceutical production specializing in diabetes, oncology immunology and neuroscience. The company has been registering a significant increase in revenue through its innovative approach towards drug development, strategic research and development investments.
Moreover, the company’s commitment to addressing key health challenges among other things as well as an impressive product pipeline makes it a strong player in the pharmaceutical industry. Also, the market capitalization of this company is impressive because it reflects a great level of investor confidence in its future growth.
Broadcom (AVGO)
Market Cap: $807.42 billion
Revenue (TTM): $42.62 billion
Net Income (TTM): $10.27 billion
1-year Trailing Total Return: 101.69%
Exchange: Nasdaq
Year Founded: 1961
Broadcom Inc, designs and manufactures a wide range of semiconductors, enterprise software and security solutions. These have several applications such as in smart-phones, data centers, networking equipment and broadband devices.
Several factors have contributed to the substantial revenue growth of Broadcom especially its strategic alignment with AI and use of generative AI platforms for business purposes which also translates into increased market cap growth. In this sense, the company’s innovative chip design methods have positioned it at the helm of technological advancement globally.
The Bottom Line
Today’s biggest businesses are worth many billions or even trillions of dollars when measured by their market capitalization. Some companies are bigger than the GDP of entire nations. As for today, tech firms dominate most lists followed by energy companies among other sectors on them – but historically trading firms have always been on top ahead of railroads or steelworks or something like that – therefore they could be replaced by some other industries.
As we close, let us keep in mind that these ten highest valued multinationals epitomize global economic diversity and dynamism up to 2024 at least. Such corporations cut across various industries including technology sector as well natural gas exploration drug manufacturing just to mention few examples; all playing pivotal roles in their respective areas. Consequently, these enterprises will probably remain among leaders within worldwide markets while they will continue introducing new products & adapting themselves towards altered circumstances around them sooner than later.
