World's 10 largest tech firms’ combined market capitalization surpasses China’s GDP
Date
7/24/2024 2:42:34 AM
(MENAFN) The world's ten largest tech companies have achieved a combined market capitalization of nearly USD18 trillion, surpassing China's gross domestic product (GDP) of USD17.6 trillion in 2023, as reported by Statista. Leading the pack, Apple has emerged as the most valuable tech company globally, boasting a market capitalization of USD3.4 trillion in 2024, according to data from the Companies Market Cap website, compiled by a Turkish news agency. This is a significant leap from its market cap of USD1.1 trillion in March 2020 at the onset of the global pandemic.
Microsoft holds the position of the second-most valuable tech company, with a market cap of USD3.3 trillion. This impressive valuation is largely due to the company's advancements in cloud computing and artificial intelligence (AI) solutions, which have driven substantial growth. Nvidia, based in the United States, ranks third on the list. The chipmaker's market cap soared from USD1.2 trillion last year to USD3 trillion earlier this month, reflecting its dominant position in the semiconductor industry.
Alphabet, the parent company of Google, stands fourth with a market capitalization of USD2.2 trillion, while Amazon follows in fifth place with a valuation of USD1.9 trillion. Meta Platforms, formerly known as Facebook, holds the sixth spot with a market cap of USD1.2 trillion. Taiwan Semiconductor Manufacturing Company (TSMC) is seventh with USD878 billion, underscoring its critical role in the global electronics supply chain.
Tesla is ranked eighth, with a market capitalization of USD802 billion. Broadcom comes in ninth with USD749 billion, and Tencent rounds out the top ten with a market cap of USD449 billion. These figures highlight the immense economic power and influence of the leading tech giants, collectively surpassing the GDP of major world economies.
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