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Home » Tech Firms Dominate the Top 10 List of the World’s Largest Companies

Tech Firms Dominate the Top 10 List of the World’s Largest Companies

Techeconomy by Techeconomy
September 9, 2023
in TE Insights
0
Tech firms Dominate the Top 10 List of World's Largest Companies
Notably, among the top ten, only two hail from outside the United States: Saudi Arabian Oil and Taiwan Semiconductor Manufacturing (TSMC).

Tech firms Dominate the Top 10 List of World's Largest Companies

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Tech companies, it seems, are the ruling monarchs of the stock market, constituting eight of the top ten (10) largest companies globally.

As of August 2023, Apple, Microsoft, Alphabet (Google), Amazon, Meta, NVIDIA, Tesla and TSMC, are eight of the world’s top ten biggest companies by market capitalisation, data obtained from the Motley Fool, a financial and investment advisory firm, showed. These corporations have not only shattered financial records but have also fundamentally shaped the way we live, work, and interact in the modern world.

Notably, among the top ten, only two hail from outside the United States: Saudi Arabian Oil and Taiwan Semiconductor Manufacturing (TSMC).

Top ten firms with the biggest market capitalisation:

1. Apple (Tech)

Tech Firms Dominate the Top 10 List of the World’s Largest Companies - Apple
United BANK

CEO: Tim Cook

Market Cap: $3.03 trillion

Revenue (TTM): $385.10 billion

Gross Profit (TTM): $166.29 billion

Five-Year Annualized Return: 29.73%

Year Founded: 1976

Apple Inc. reigns supreme as the world’s largest company by market cap, a position it has steadfastly held for most of the last decade. Known for its cutting-edge products like the iPhone, MacBook, and AirPods, Apple’s foray into services, including Apple TV+, has further bolstered its standing.

“Innovation and brand loyalty have propelled Apple to its zenith,” states Tim Cook, the CEO. Apple’s transformative impact on consumer technology is undeniable, having crossed the $1 trillion, $2 trillion, and now the $3 trillion market cap milestones.

2. Microsoft (Tech)

Tech Firms Dominate the Top 10 List of the World’s Largest Companies - Microsoft

CEO: Satya Nadella

Market Cap: $2.43 trillion

Revenue (TTM): $211.92 billion

Gross Profit (TTM): $146.05 billion

Five-Year Annualized Return: 24.75%

Year Founded: 1975

Microsoft, synonymous with its ubiquitous Windows operating system, has consistently ranked among the world’s largest companies. Beyond Windows, Microsoft boasts a diverse portfolio, including Office Suite software, Azure cloud platform, and Xbox gaming consoles. Its cloud computing services, particularly Azure, have been driving growth.

“Microsoft’s versatility and leadership in cloud services make it a force to be reckoned with,” affirms Satya Nadella, the CEO. While it briefly dethroned Apple in 2021, Apple swiftly regained the top spot, but Microsoft remains a powerhouse in the tech landscape.

3. Saudi Arabian Oil (Saudi Aramco, Oil & Gas):

Saudi Aramco

CEO: Amin H. Nasser

Market Cap: $2.08 trillion (Converted from Saudi riyals)

Revenue (TTM): $551.95 billion

Gross Profit (TTM): $283.63 billion

Year Founded: 1933

Saudi Arabian Oil, commonly known as Saudi Aramco, commands a significant presence in the energy and chemicals sector. As the Saudi government’s prized possession, it boasts the largest daily oil production and the second-largest proven crude oil reserves globally.

Amin H. Nasser, the CEO, emphasizes, “Our strength lies in our vast reserves and strategic location.” Saudi Aramco’s fortunes sway with oil prices, as it briefly claimed the top market cap spot in 2022 before ceding ground to Apple and Microsoft when demand waned.

4. Alphabet (Google, Tech):

Tech Firms Dominate the Top 10 List of the World’s Largest Companies - Alphabet

CEO: Sundar Pichai

Market Cap: $1.62 trillion

Revenue (TTM): $288.14 billion

Gross Profit (TTM): $159.57 billion

Five-Year Annualized Return: 15.71%

Year Founded: 1998 (Google), 2015 (Alphabet)

Alphabet, the parent company of Google, has revolutionized the digital landscape. Google, the world’s leading search engine, is just one facet of Alphabet’s vast portfolio, which includes Gmail, YouTube, Android, and Google Cloud. Its hardware offerings like Pixel phones, Fitbit, and Google Nest further diversify its reach.

Sundar Pichai, CEO of Alphabet, highlights, “We’re at the forefront of innovation across the digital spectrum.” Google’s dominance in the digital realm cements Alphabet’s status among the market cap giants.

5. Amazon: (Tech, e-commerce)

Amazon

CEO: Andy Jassy

Market Cap: $1.32 trillion

Revenue (TTM): $524.90 billion

Gross Profit (TTM): $234.77 billion

Five-Year Annualized Return: 7.17%

Year Founded: 1994

Amazon’s ascent from an online bookstore to the world’s largest e-commerce retailer is legendary. Beyond e-commerce, Amazon reigns as the leading provider of cloud computing services through Amazon Web Services (AWS). It also boasts Amazon Prime, Amazon Prime Video, and Whole Foods Market in its impressive repertoire.

Andy Jassy, the CEO, proudly states, “We’re not just an e-commerce giant; we’re shaping the future of cloud computing.” With a diversified product portfolio, Amazon’s influence extends across the digital landscape.

United BANK

6. Nvidia (Tech)

Nvidia

CEO: Jensen Huang

Market Cap: $1.10 trillion

Revenue (TTM): $25.88 billion

Gross Profit (TTM): $14.57 billion

Five-Year Annualized Return: 47.81%

Year Founded: 1993

Nvidia, renowned for its graphics processing units (GPUs), has blazed a trail in the gaming and cryptocurrency mining arenas. Its GPUs are now pivotal in AI and machine learning applications, propelling Nvidia to new heights.

Jensen Huang, the CEO, emphasizes, “We’re the driving force behind generative AI platforms.” Nvidia’s recent profit surge in 2023 solidifies its standing among tech industry leaders.

7. Tesla (Tech/Automotive)

Tesla

CEO: Elon Musk

Market Cap: $823.08 billion

Revenue (TTM): $94.03 billion

Gross Profit (TTM): $20.20 billion

Five-Year Annualized Return: 62%

Year Founded: 2003

Tesla’s meteoric rise in the electric vehicle (EV) realm is unmistakable. The world’s most valuable automaker, Tesla’s Model Y is the best-selling car globally. Beyond EVs, Tesla manufactures solar products and the Powerwall battery system for solar energy storage.

Elon Musk, the CEO, envisioned, “A sustainable, electrified future.” Tesla’s innovative spirit and clean energy solutions have propelled it into the top ranks of market cap giants.

8. Meta (Tech, social media)

Meta

CEO: Mark Zuckerberg

Market Cap: $806.02 billion

Revenue (TTM): $120.52 billion

Gross Profit (TTM): $95.73 billion

Year Founded: 2004

Formerly Facebook, Meta embarked on a transformative journey in 2021, focusing on building the metaverse. While the rebrand’s success remains uncertain, Meta’s primary assets—Facebook and Instagram—loom large in the social media landscape. It has also ventured into virtual reality with Meta Quest 2 and Oculus.

Mark Zuckerberg, the CEO, aims to “redefine digital experiences.” Meta’s foray into the metaverse is shaping the future of online interactions.

9. Berkshire Hathaway (Diversified Investments)

Berkshire Hathaway

CEO: Warren Buffett

Market Cap: $773.92 billion

Revenue (TTM): $316.67 billion

Gross Profit (TTM): $61.75 billion

Year Founded: 1839

Berkshire Hathaway, initially a textile company, transformed into Warren Buffett’s investment conglomerate. With its core business in insurance (including GEICO), Berkshire has diverse investments spanning numerous industries.

Warren Buffett, the legendary investor and CEO, says, “Diversity is our strength.” Berkshire Hathaway’s multifaceted portfolio and Buffett’s wisdom continue to underpin its high market cap.

10. Taiwan Semiconductor Manufacturing (Tech, semi-conductor)

Taiwan Semiconductor Manufacturing Company

CEO: C. C. Wei

Market Cap: $496.34 billion

Revenue (TTM): $72.49 billion

Gross Profit (TTM): $41.72 billion

Year Founded: 1987

Taiwan Semiconductor Manufacturing, or TSMC, leads the semiconductor industry as the world’s largest independent semiconductor foundry. It collaborates with global tech giants like Apple and Nvidia, supplying critical components.

C. C. Wei, the CEO, notess, “We’re the backbone of the tech world.” TSMC’s pivotal role in manufacturing chips cements its position among the market cap giants.

These global giants, hailing from various sectors including technology, energy, and finance, collectively wield immense economic influence.

Summary:

largest companies by Market Cap 2023

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