Apple and Microsoft are the Most Valuable Companies in the World.
Apple and Microsoft have been ranked as the most valuable companies in the world, according to data from Refinitiv Icon. The surge in the share prices of technology companies in the last week of July has helped to boost the market value of both companies.
As of July 31, Apple’s market capitalization was over $30 trillion, while Microsoft’s was about $25 trillion. Saudi Aramco, the only major company outside the United States in the top ten, was third with a market capitalization of about $24 trillion.
Other technology companies in the top ten include Alphabet (Google), Amazon, and chipmaker Nvidia. Tesla, Meta (Facebook), Berkshire Hathaway, and Visa were also in the top ten.
Apple’s shares rose nearly 10% in July to an all-time high of $150. This was despite reports of declining smartphone demand and the market falling significantly for the first time since 2016. Microsoft’s share price also increased by more than 7%, Amazon’s by 6%, Alphabet’s by 5%, and Tesla’s by 4%.
Facebook’s market capitalization also increased by about 10% in July. The company recently released its new app Threads and is said to be preparing to introduce its own AI chatbot.
The top 20 most valuable companies also include chipmakers, insurance and healthcare service providers, e-commerce, multimedia, and fuel companies. French company Louis Vuitton, multinational multimedia company Tencent Holdings, and chipmaker Taiwan Semiconductor Manufacturing Company are also in the top 20.
Data from Refinitiv shows that more than 69% of large and mid-sized U.S. companies posted better-than-expected earnings in the most recent quarter. Analysts such as Dan Ives predict that the days of technology companies are back due to artificial intelligence.