Tech companies around the world have grown tremendously in the last few decades. The growth of these tech companies can be attributed to their ground-breaking business methods and innovative products that have revolutionised life.
Many of these tech companies are currently among the biggest and most valuable businesses in the world, and in the past, they have been among the best assets that anyone can own. The potential markets for these tech companies have grown as a result of the economy’s increasing globalisation, where one initiative can have an impact on several industries and regions globally.
Let’s take a look at some of largest tech companies by market cap in the world, as of June 2024, according to Statista.
Apple (Market cap: $3.47 trillion)
Apple Inc designs, manufactures, and markets smartphones, tablets, personal computers, and wearable devices. The company offers software applications and related services, accessories, and third-party digital content. Apple’s product portfolio includes iPhone, iPad, Mac, iPod, Apple Watch, and Apple TV. It also provides advertising, payment, and cloud services and various consumer and professional software applications such as iOS, macOS, iPadOS, watchOS, iCloud, AppleCare, and Apple Pay.
Apple sells and delivers digital content and applications through the App Store, Apple Arcade, Apple News+, Apple Fitness+, Apple Card, Apple TV+, and Apple Music. The company’s business operations span the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Apple is headquartered in Cupertino, California, the U.S.
Microsoft (Market cap: $3.31 trillion)
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The productivity and business processes segment offers office, exchange, sharepoint, microsoft teams, office 365 security and compliance, microsoft viva, and microsoft 365 copilot. It also supports office consumer services, such as microsoft 365 consumer subscriptions, office licensed on-premises, and other office services. This segment also provides LinkedIn; and dynamics business solutions, including Dynamics 365, a set of intelligent, cloud-based applications across ERP, CRM, power apps, and power automate; and on-premises ERP and CRM applications. The Intelligent Cloud segment offers server products and cloud services, such as azure and other cloud services; SQL and windows server, visual studio, system center, and related client access licenses, as well as nuance and GitHub; and enterprise services including enterprise support services, industry solutions, and nuance professional services.
The company generates revenue by developing, licensing, and supporting a wide range of software products and services, by designing and selling hardware devices, and by delivering relevant online advertising to a global customer audience. In addition to selling individual products and services, it offers suites of products and services.
Nvidia (Market cap: $3.08 trillion)
Nvidia Corp (Nvidia) is a designer and developer of graphics processing units, central processing units, and system-on-a-chip units. The company offers its products to the gaming, professional visualization, data center, and automotive markets. It also offers solutions for artificial intelligence and data science, data center and cloud computing, design and visualization, edge computing, high-performance computing, and self-driving vehicles. It offers its products under the GeForce NOW, Quadro, GeForce, SHIELD, vGPU, DOCA, JESTON, and Bluefield brand names.
The company serves diverse industries, including architecture, engineering, construction, cybersecurity, energy, financial services, healthcare and life sciences, education, gaming, manufacturing, media and entertainment, retail, robotics, telecommunications, and transportation. It has a business presence across the Americas, Asia-Pacific, and Europe. Nvidia is headquartered in Santa Clara, California, the U.S.
Alphabet (Google) (Market cap: $2.24 trillion)
Alphabet Inc (Alphabet), the holding company of Google, is a global technology company. It offers a wide range of products and platforms including Google Search, Google Maps, calendar, ads, Gmail, Google Play, Android, Google Cloud, Chrome, Google Display & Video 360, Google Marketing Platform, and YouTube. It also offers hardware products such as Pixel phones, smartwatches, and Google Nest home products.
The company offers online advertising services through its Google Network services. Google Network properties include AdSense, Google Ad Manager, and AdMob. It also offers internet services, subscription-based products, apps and in-app purchases, and licensing and research and development services. Alphabet invests in infrastructure, data, machine learning, analytics, and artificial intelligence. The company has business presence across the Americas, Europe, and Asia-Pacific. Alphabet is headquartered in Mountain View, California, the U.S.
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Amazon (Market cap: $1.90 trillion)
Amazon.com Inc (Amazon) is a provider of the bespoke online retail platform. The company provides apparel, auto and industrial items, beauty and health products, electronics, grocery, games, jewelry, kids and baby products, music, sports goods, toys, and tools. It also offers related support services including home delivery and shipping, cloud web hosting and other web related services. The company also provides Amazon Web Services, such as database, compute, storage, and other services, to government agencies, start-ups, enterprises, and academic institutions.
Amazon merchandises its products through company-owned online and physical stores. It also manufactures and commercializes various electric devices such as Kindle e-readers, fire tablets, fire TVs, echo, Alexa, and other devices. The company allows authors, musicians, filmmakers, and others to publish and sell content. Amazon is headquartered in Seattle, Washington, the U.S.
Meta Platforms (Facebook) (Market cap: $1.22 trillion)
Meta Platforms Inc (Meta), formerly Facebook Inc, is a provider of social networking, advertising, and business insight solutions. Through its major products, Facebook, Instagram, Oculus, Threads, Messenger, and WhatsApp, the company connects people with their friends, families, and co-workers across the world, and helps them discover new products and services from local and global businesses. It enables people to share their opinions, ideas, photos and videos, and other activities through mobile devices and personal computers.
Meta sells advertising placements for marketers to reach people based on factors including age, gender, location, interests, and behavior. The company’s business operations span the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Meta is headquartered in Menlo Park, California, the U.S.
Taiwan Semiconductor Manufacturing Company (TSMC) (Market cap: $971.6 billion)
Taiwan Semiconductor Manufacturing Company (TSMC) is a high-tech company based in Taiwan’s ‘Silicon Valley,’ the Hsin-chu Science-Based Industrial Park. The company is listed on the Taiwan Stock Exchange (TSE) and the New York Stock Exchange (NYSE) under the symbol of TSM.
TSMC was the first pure integrated circuit (IC) foundry company in the world. Since TSMC’s founding, it has been dedicated to providing manufacturing services for advanced ICs. The company’s charter prevents its from designing or making its own brand-name IC products. Hence, TSMC is a partner, not a competitor, for other semiconductor companies. TSMC’s success in the foundry business has served as a model for many new entrants to the market. With TSMC as the engine of change, what was once only a concept — a pure foundry — is today a multi-billion dollar industry. As the semiconductor industry faces greater consolidation and spiralling costs for building new IC fabs, professional foundry companies like TSMC stand to become a primary source of IC manufacturing services to meet rising worldwide demand.
Tesla (Market cap: $792.16 billion)
Broadcom (Market cap: $737.26 billion)
With roots based in the rich technical heritage of AT&T/Bell Labs, Lucent and Hewlett-Packard/Agilent, Broadcom focuses on technologies that connect the world. Through the combination of industry leaders Broadcom, LSI, Broadcom Corporation, Brocade, CA Technologies, Symantec’s enterprise security business and VMware, the company has the size, scope and engineering talent to lead the industry into the future.
Broadcom is focused on technology leadership and category-leading semiconductor and infrastructure software solutions. The company is a global leader in numerous product segments serving the world’s most successful companies. It combines global scale, engineering depth, broad product portfolio diversity, superior execution and operational focus to deliver category-leading semiconductor and infrastructure software solutions so its customers can build and grow successful businesses in a constantly changing environment.
Tencent (Market cap: $434.91 billion)
How market cap influence tech companies
With the knowledge of the market caps of various companies, investors are able to make better informed decisions about the types of stocks they would want in their portfolios. That is in accordance with their investment plans. Over a long enough period of time, large-cap, mid-cap, as well as small-cap stocks have the potential to lead the markets. It is mainly due to being differently affected by changes in the economy. It is for this reason that investors prefer to have a diverse portfolio consisting of a well balanced mix of these three types of stocks.
What makes top tech companies successful
There are many factors which tech companies adopt in order to be successful below are some:
Begin small: The majority of successful tech companies begin small and gradually grow to achieve higher objectives and, thus, greater successes.
Value their workers: The tech companies that are most successful value their workforce. Organizational structures have been put in place to support staff members in maintaining accountability and giving them the freedom to own their job.
Gathering consumer feedback: All major tech organizations frequently invest a lot of effort in obtaining consumer feedback. Since it helps them understand the objectives and problems of their audience better. This approach is essential to their success.
More than just a product, they create platform: Most of the sucessfull tech companies nowadays are those who create platforms rather than merely products, as the internet is evolving at a rapid pace. All of the major tech companies, such as Google, Amazon, and Facebook, offer a platform that is open to everyone.
Principles aligns with users: Resonating with the basic values of their consumers is a crucial characteristic of excellent tech organizations. Consider Apple and its focus on innovation and uniqueness. The firm enjoys a strong following of customers who enthusiastically embrace its principles and are willing to try every new product that is introduced.
Take charge, not follow: Tech companies that achieve success usually take the lead in the industry and don’t wait for trends to become popular before embracing them. They do research in order to be one step ahead of their competitors and to seize newly discovered client interests as they emerge.
