The combined market capitalization of the two most valued companies in the world – Microsoft and Apple – has overtaken the total market capitalization of the 3,851 listed companies on the Bombay Stock Exchange. Furthermore, the market value of the US’ top three valuable companies – Microsoft, Apple, and Nvidia – is now bigger than that of the 5,300+ companies on the Chinese stock exchange, Bloomberg data showed.
Microsoft and Apple, with a combined market capitalization of $6.14 trillion, have surpassed the entire worth of actively traded companies on the Bombay Stock Exchange, which stands at $5.06 trillion, official data shows.
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Thanks to the growing importance of artificial intelligence (AI), Microsoft has been investing in OpenAI and is implementing AI features in its products and services. This investor fascination with the introduction of AI in workspaces has helped its shares skyrocket to all-time highs. For the record, the technology company's shares have risen 15 percent in six months on the NASDAQ.
Apple's rise this year hasn't been the smoothest. Pressured by concerns over cooling iPhone demand in China and a hefty $2 billion fine from the European Union, the California-headquartered major seemed to be in a tight spot. However, Apple shares have managed to regain their lost positivity in 2024, climbing 7 percent in a month, as investors regain an upbeat sentiment in the company. iPhone sales dropped 8 percent in China in the first three months. Interestingly, overall sales fell in every geographic region barring Europe.
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But it’s not just the two; Nvidia, another mammoth of a company in the AI space, perhaps shines the brightest. A whopping 160 percent rally in the counter in six months is a case in point.
With its cutting-edge products garnering interest in data center operations engaged in intricate AI computing, the company has solidified its dominance in the market. This week, the company achieved an extraordinary milestone after its market capitalization soared to an astonishing $3 trillion, making it the very first computer chip firm to do so.
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The three most valuable tech firms have amassed a collective market capitalization of $9.2 trillion, outpacing China as well, whose total value of listed entities is $8.85 trillion excluding Hong Kong, Bloomberg data showed.
Interestingly, the Tim Cook-led Apple was the first U.S. company to reach a $3 trillion market cap in January 2022. Microsoft reached the milestone only in 2024. Nvidia passed the $2 trillion valuation in February 2024, and it only took about three months to touch the $3 trillion mark.
The company hasn't shown signs of slowing down. Its CEO Jensen Huang, during a call, told investors that "fundamentally, the conditions are excellent for continued growth" in 2025 and beyond. He says demand for the company’s GPUs will remain high due to generative AI and an industry-wide shift away from central processors.
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