TipRanks brings to you a fully dedicated page of the “Largest Companies by Market Cap” with all the important data points to gauge their popularity and performance. These companies boast a wide moat and are often the leaders in their respective fields. Why does this page yield so much importance to our readers? Well, here’s the thing: while strategizing a portfolio, every investor must consider well-capitalized companies to ensure some stability in returns and a lower risk profile.
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By compiling the biggest companies by market cap, TipRanks is making it easier for investors to scan the companies, compare them on a single screen, and finally pick their favorites after thorough research. You can locate this page under the “Ideas” Section of the TipRanks portal. The top seven companies on the list have a market cap of at least $1 trillion as of date.
On this page, you will see a list of the most valuable companies in descending order of market cap, along with the sector they belong to, Analyst Consensus, and TipRanks Smart Score. Here’s the current list:
#1 Microsoft Corporation (NASDAQ:MSFT)
As seen from the chart above, technology behemoth Microsoft is the undisputable leader based on market capitalization as of February 26, 2024. MSFT is popular for its Windows Operating System, a must-have system for personal computers and laptops. Plus, its Office 365 Software Suite provides all the necessary tools for complete office and business functioning. MSFT also owns the Azure Cloud platform and the famous Xbox video game consoles business.
It’s no wonder that Microsoft has a wide moat across the software domain and hosts other lucrative cloud and gaming solutions. The company even entered the artificial intelligence (AI) space with its $10 billion investment in ChatGPT-maker OpenAI.
In its most recent quarterly report for Q2 FY24, MSFT posted an 18% year-over-year jump in revenues to $62.02 billion. Meanwhile, net income rose 33% to $21.87 billion compared to Q2 FY23.
On TipRanks, MSFT stock commands a Strong Buy consensus rating backed by 33 Buys, one Hold, and one Sell rating. The average Microsoft price target of $469.58 implies 15.2% upside potential from current levels.
#2 Apple Inc. (NASDAQ:AAPL)
iPhone maker Apple secures the second spot based on market capitalization currently. Interestingly, it was the first to surpass the $1 trillion, $2 trillion, and $3 trillion market caps ever in the history of the American stock market.
Apple’s portfolio comprises some of the most favored premium quality hardware products, including iPhone, MacBook, and AirPods. Apple enthusiasts are eagerly waiting to get their hands on its latest product, the mixed-reality headset Apple Vision Pro.
For the first quarter of Fiscal 2024, which ended on December 30, 2023, Apple recorded a 2% year-over-year rise in its revenue to $119.58 billion. Net income increased 13% to reach $33.92 billion.
AAPL stock has a Moderate Buy consensus rating on TipRanks backed by 16 Buys, eight Holds, and one Sell rating. The average Apple Inc. share price forecast of $206.15 implies 13.8% upside potential from current levels.
#3 Nvidia Corporation (NASDAQ:NVDA)
The list of the U.S. biggest companies by market cap will remain incomplete without including semiconductor giant Nvidia. With a market cap of nearly $2 trillion, NVDA takes the third spot currently. Nvidia has gained massive popularity for its proficiency and excellence in innovating advanced chips.
Nvidia’s graphics processing units (GPUs) play a prime role in the AI-driven world for supporting multiple applications in personal computers (PCs) and video games, mining cryptocurrencies, and building and training generative AI models.
In the Fiscal fourth quarter ending January 28, 2024, Nvidia’s sales increased 265% year-over-year to $22.1 billion and net income zoomed 769% to $12.29 billion.
With 38 Buys and two Hold ratings, NVDA stock commands a Strong Buy consensus rating on TipRanks. The average Nvidia share price target of $867.93 implies 9.7% upside potential from current levels.
#4 Amazon.com (NASDAQ:AMZN)
The world’s largest e-commerce behemoth, Amazon.com, ranks fourth in the U.S. based on market cap. The online retail shopping giant also boasts a renowned cloud computing service segment, Amazon Web Service (AWS). Plus, it offers the Amazon Prime subscription service, which has over 200 million subscribers globally. Moreover, its digital foray into Amazon Prime Video streaming attracts millions of viewers. The company also operates live streaming video gaming services through its unit Twitch.
Currently, Amazon is under pressure as it is undergoing a lawsuit, with the Federal Trade Commission (FTC) accusing the company of monopolistic practices to maintain its market-leading position.
For the final quarter of Fiscal 2023, AMZN’s sales rose 14% year-over-year to $169.96 billion, while net income grew exponentially to $10.62 billion from $278 million in the prior-year quarter.
With 41 unanimous Buy ratings, AMZN stock commands a Strong Buy consensus rating on TipRanks. The average Amazon.com share price forecast of $208.23 implies 19.2% upside potential from current levels.
#5 Alphabet Class C (NASDAQ:GOOG)
Alphabet offers a diverse range of products, including its all-famous search engine Google, email service Gmail, online streaming service YouTube, navigation apps Maps and Waze, Android Operating Software, Google Chrome, and Pixel smartphones.
The company has a dual share listing structure with Class A (GOOGL) and Class C (GOOG) shares. The main difference is that GOOGL stock has voting rights while GOOG stockholders do not. Consequently, GOOG shares usually tend to trade at a slight discount to GOOGL shares.
Currently, Alphabet is facing one of the biggest antitrust trials, with the U.S. Department of Justice alleging that Google uses unfair practices to make its search engine the default browser across many companies.
For the three months ending December 31, 2023, Google’s parent Alphabet reported a 13% year-over-year jump in revenues to $86.31 billion while net income rose nearly 52% to $20.69 billion.
On TipRanks, GOOG stock has a Strong Buy consensus rating based on six Buys and one Hold rating. The average Alphabet Class C share price target of $163.57 implies 17.9% upside potential from current levels.
Key Takeaways
Analyzing a carefully curated list of the largest companies by market cap enables investors to choose stocks wisely and quickly. TipRanks believes in leveling the playing field for investors and regularly launches tools that aid investors in making easier and more fruitful investment decisions.
