6 Trillion-dollar Companies

In recent years, some of the most valuable companies in the world have achieved remarkable success, with six publicly traded firms surpassing market capitalizations of $1 trillion. All six are tech giants, providing products and services that consumers use daily.

Nvidia has recently claimed the title of the world’s most valuable company, surpassing Microsoft and Apple, fueled by a surge in demand for artificial intelligence (AI). Nvidia joined the $1 trillion club in May 2023 and has since gained over $2 trillion in additional market value.

Here’s a look at the largest publicly traded companies that are part of the trillion-dollar club.

What is market capitalization and what does it mean?

A company’s market capitalization represents the total value of its outstanding shares. It is calculated by multiplying the stock price by the number of shares outstanding. For instance, if a company’s stock is priced at $10 and it has 1 billion shares, its market cap would be $10 billion.

Market cap serves as a measure of a company’s worth at any given moment.

Trillion-dollar companies

1. Nvidia (NVDA)

Semiconductor giant Nvidia reached a market capitalization of $1 trillion in May 2023 and quickly ascended to the top position as investors fueled its stock in anticipation of a prolonged surge in AI. Nvidia specializes in designing advanced chips utilized in AI systems, with its shares soaring over 170 percent in 2024 by June. The company finished 2023 with an impressive 246 percent increase since the beginning of the year and reported approximately $27 billion in revenue for fiscal 2023.

• Market cap: $3.34 trillion
• Stock price: $135.58

2. Microsoft (MSFT)

Microsoft is widely recognized for its range of software products, particularly Microsoft Office. In its 2023 fiscal year, the company reported sales of nearly $212 billion. In October 2023, Microsoft finalized its $69 billion acquisition of video game developer Activision Blizzard.

• Market cap: $3.32 trillion
• Stock price: $446.34

3. Apple (AAPL)

Apple creates a range of consumer technology products and is recognized as one of the world’s leading brands. In its fiscal 2023, Apple achieved over $200 billion in iPhone sales, contributing to total revenues of $383 billion. Warren Buffett’s Berkshire Hathaway is among the company’s largest shareholders, and Buffett has consistently praised Apple’s business model.

• Market cap: $3.29 trillion
• Stock price: $214.29

4. Alphabet (GOOG and GOOGL)

Alphabet, the parent company of Google, primarily earns its revenue—over $307 billion—through online advertising. In addition to its core search business, Google operates a cloud division, owns YouTube, and pursues various other initiatives categorized as “other bets.”

• Market cap: $2.17 trillion
• Stock price: $176.45

5. Amazon (AMZN)

Amazon, the world’s largest online retailer, has also established a significant cloud computing division with Amazon Web Services (AWS). In 2023, the company reported total sales of approximately $575 billion, with over $90.8 billion coming from AWS. As of March 2024, co-founder Jeff Bezos ranked as the second-richest person in the world, according to Bloomberg.

• Market cap: $1.90 trillion
• Stock price: $182.81

6. Meta Platforms (META)

Social media giant Meta Platforms reentered the trillion-dollar club in January 2024, having first achieved a $1 trillion market cap in 2021 when it was still called Facebook. In 2023, Meta reported nearly $135 billion in total revenue, with its stock price soaring by nearly 189 percent. As the parent company of Facebook, Instagram, and WhatsApp, Meta is also among the tech giants making significant investments in artificial intelligence.

• Market cap: $1.27 trillion
• Stock price: $499.49