Over the past few decades, technology has been integrated deeper into every corner of the economy. Technology stocks have been some of the market’s best long-term performers, and the technology sector’s total weighting in the S&P 500 has expanded to 29.2% as of April 30. Even mega-cap companies like Alphabet Inc. (ticker: GOOG, GOOGL), Amazon.com Inc. (AMZN), Meta Platforms Inc. (META) and Tesla Inc. (TSLA) that aren’t technically classified as tech companies by the Global Industry Classification Standard have businesses that revolve around disruptive technology, such as artificial intelligence and cloud services.
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Here’s a look at the world’s 10 biggest public tech companies:
| Stock | Market capitalization |
| Microsoft Corp. (MSFT) | $3.1 trillion |
| Apple Inc. (AAPL) | $2.8 trillion |
| Nvidia Corp. (NVDA) | $2.2 trillion |
| Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) | $770 billion |
| Broadcom Inc. (AVGO) | $616 billion |
| ASML Holding NV (ASML) | $367 billion |
| Oracle Corp. (ORCL) | $320 billion |
| Salesforce Inc. (CRM) | $269 billion |
| Advanced Micro Devices Inc. (AMD) | $246 billion |
| Adobe Inc. (ADBE)* | $216 billion |
*As of the time of writing. SAP SE (SAP) has since exceeded ADBE in market value, at $222 billion.
Microsoft Corp. (MSFT)
Microsoft is the world’s largest software company and is known for its Windows operating system, Azure cloud services, LinkedIn social media platform, Office professional software suite and Xbox gaming brand. Microsoft is one of the oldest companies on this list; it was founded in 1975 and went public in 1986. Nearly half a century after its founding, Microsoft’s pivot to subscription-based software, professional cloud services and AI technology has helped it maintain the revenue growth long-term investors have come to expect. Microsoft is hoping its investments in ChatGPT-maker OpenAI will help usher in its next era of growth.
Market capitalization: $3.1 trillion
Apple Inc. (AAPL)
Not only is Apple one of the most valuable tech companies in the world, it is also one of the most profitable companies in the world. While Apple’s revenue growth has slowed, it reported a whopping $97 billion in net income in 2023. Its massive profits supported $83.9 billion in annual buybacks. In addition to the stock’s strong long-term performance, legendary value investor Warren Buffett thinks Apple still has room to run. Apple is by far the largest stock holding of Buffett’s Berkshire Hathaway Inc. (BRK.B, BRK.A) representing about 40% of its total public investment portfolio.
Market capitalization: $2.8 trillion
Nvidia Corp. (NVDA)
High-end semiconductor maker Nvidia has been one of the most spectacular growth stories in the entire stock market since the 2008 financial crisis. In March 2009, Nvidia’s market cap was under $5 billion. Just 15 years later, Nvidia’s historic bull run has sent the stock’s market capitalization soaring above $2 trillion, and the company continues to churn out impressive growth numbers thanks to booming AI infrastructure demand. Not only has Nvidia been the best-performing stock on this list in 2024, it has been the second best-performing stock in the entire S&P 500 this year.
Market capitalization: $2.2 trillion
Taiwan Semiconductor Manufacturing Co. Ltd. (TSM)
Taiwan Semiconductor Manufacturing is the world’s largest contract chipmaker, producing cutting-edge semiconductor chips designed by Advanced Micro Devices Inc. (AMD), Qualcomm Inc. (QCOM) and other customers. Taiwan Semiconductor was founded in 1987 and has been the leading dedicated global semiconductor foundry ever since, generating a 836% total return for investors in the past decade. In recent years, Taiwan Semi’s foundries have become even more important to the tech world as Intel Corp. (INTC) has struggled with its in-house manufacturing processes. Taiwan Semiconductor holds an impressive 61% share of the global semiconductor foundry market, and its market share is still growing.
Market capitalization: $770 billion
Broadcom Inc. (AVGO)
Broadcom is a diversified designer, developer and supplier of analog semiconductor devices. Broadcom has been a 20-bagger stock for investors in the past decade, gaining 2,447% including dividends. In addition to its impressive organic revenue growth, Broadcom also recently closed a massive $69 billion acquisition of VMware that could significantly boost Broadcom’s software capabilities. Broadcom is highly exposed to Apple device sales and should continue to benefit from growth in data center networking. VMware could also help Broadcom diversify into higher-margin, recurring software sales, providing additional financial visibility.
Market capitalization: $616 billion
ASML Holding NV (ASML)
ASML is headquartered in the Netherlands and is one of the world’s largest semiconductor manufacturing equipment suppliers. The global semiconductor market could become a $1 trillion industry by 2030, and ASML is the world’s only manufacturer of extreme ultraviolet (EUV) lithography machines. Chipmakers use EUV technology to print increasingly smaller chip designs. ASML doesn’t design or produce any chips itself, it simply designs the machines that create advanced chips for Intel, Taiwan Semiconductor and other chipmakers. CEO Peter Wennink has said 2024 will be a “transition year” for ASML, but growth will likely accelerate in 2025.
Market capitalization: $367 billion
Oracle Corp. (ORCL)
Oracle is one of the world’s largest enterprise software and cloud services providers, specializing in database management software. Oracle is a rare value among mega-cap tech stocks given its shares trade at just an 18.6 forward earnings multiple. Oracle has stable top-line growth, generates consistent profits, has an attractive valuation, and is reinvesting excess income in stock buybacks and its 1.3% dividend. Oracle has world-class data center infrastructure, and its enterprise resource planning software system helps manufacturers manage their processes, including planning and purchasing materials. AI chipmaker Nvidia is one of Oracle’s major cloud computing customers.
Market capitalization: $320 billion
Salesforce Inc. (CRM)
Salesforce is the world’s largest provider of cloud-based customer relationship management, or CRM, software. While Salesforce’s revenue growth has slowed in recent years, its profits and margins have increased. Salesforce was a pioneer of the software-as-a-service model, and the company’s aggressive acquisition strategy has allowed it to build the most comprehensive portfolio of CRM products in the market. Salesforce’s large customer base creates opportunities for cross-selling and upselling, and it has a history of high customer retention rates. Automation remains a high-growth market, and investments in AI technology could help Salesforce capture even more market share in coming years.
Market capitalization: $269 billion
Advanced Micro Devices Inc. (AMD)
Shares of microprocessor and graphics semiconductor stock Advanced Micro Devices are up a staggering 3,837% over the past decade. The company’s management team has a strong track record of success, including years of market share gains from Intel and other competitors. AMD is positioned to benefit from some of the biggest and fastest-growing segments of the tech sector, including cloud computing, AI and online gaming. While Nvidia is unquestionably the top player in AI graphics processing units, the market is so large that AMD could generate plenty of earnings and revenue growth even without overtaking Nvidia’s leadership position.
Market capitalization: $246 billion
Adobe Inc. (ADBE)
Adobe provides software applications for creative content production, and the company has successfully transitioned from a desktop-based software company to a cloud-oriented software provider. Adobe’s top products, including Photoshop, Illustrator and Premiere Pro, remain leaders in their respective markets. Digital content creation is a booming industry, and the integration of generative AI features could create tremendous long-term value for Adobe investors. Adobe’s Sensei and Firefly generative AI products are already producing a lot of buzz among customers. In addition, the company’s shift to a subscription-based model has improved and stabilized its financial outlook and helped reduce piracy of its products.
Market capitalization: $216 billion
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The 10 Biggest Tech Companies in the World originally appeared on usnews.com
Update 05/10/24: This story was previously published at an earlier date and has been updated with new information.
