There are six companies valued at more than $1trn .
As of 1 April 2022, Apple is the world’s most valuable company by market cap, according to companiesmarketcap.com. The tech giant is one of six companies valued at more than $1trn.
The Covid-19 pandemic “turbocharged Big Tech” and Apple’s value rose by $1trn in less than 16 months, the FT reported. In late October 2021 Apple briefly lost its title as the world’s most valuable company to Microsoft, but a “strong rally the following month restored its crown”. Apple became a $1trn company in August 2018 and it reached a $2trn valuation in 2020. On Monday 3 January 2022, it became the first company to hit a $3trn stock market value, before ending the day “a hair below that milestone”, Reuters said.
Microsoft briefly passed Apple as the world’s most valuable publicly traded company in 2020 and analysts predict that it could hit the $3trn market capitalisation, Investopedia reported. Its cloud revenue could be the “key factor that will drive its valuation higher”. However, in 2021 shares fell by almost 9% between November and December, and investors “should be wary of pullbacks”.
Saudi Aramco: $2.296trn
Saudi Aramco, the world’s biggest oil company, hit the $2trn mark on a number of occasions in the past couple of years – and in 2019 it became the first company in the world to reach that milestone, CNN reported. With a “near monopoly on production in the world’s leading oil-exporting nation”, Aramco is a “rare case of an old-line company that tops technology giants in market value”, said The New York Times.
Alphabet Inc: $1.880trn
Alphabet, Google’s parent company, briefly hit a market cap of $2trn in November 2021. Big Tech’s boom throughout the pandemic saw companies across the world shift from in-person workplaces to remote, cloud-based work environments and Google “benefited in the form of cloud storage subscriptions and digital ads”, The Verge reported. Since the start of 2021 its value rose by 66%, said Jared Blikre on Yahoo! Finance.
In July 2021 Jeff Bezos’s 27-year spell as Amazon CEO came to an end as Andy Jassy took charge of the multinational tech giant. After a strong stock performance in 2020, Amazon trailed 2021’s “healthy market rally”, Barron’s said. However, 2022 could be a “banner year” and the company’s fortunes are poised to change. Amazon is “uniquely positioned to exit this crisis as one of the biggest beneficiaries of accelerated digital transformation”.
Led by Elon Musk, the world’s richest person, electric car maker Tesla joined the “$1trn club” in October 2021. After dipping below the milestone, its value is back above the mark. Tesla has been the world’s most valuable car maker for some time, but for years it “struggled to ramp up production” and investors speculated it would fail, the BBC said. However, in 2021 the company “upped its game and became profitable for the first time, prompting its shares to take off”.