15 Largest companies by market cap in 2024

The sizes of companies on the stock market are often measured by their market capitalization (aka, market cap), which is calculated by multiplying the stock price by the number of shares issued. When you hear investors refer to the largest companies on the stock market, they’re usually not talking about size in terms of number of employees or even necessarily gross profits; they often mean the largest companies by market cap. 

Market capitalization is considered a measure of business maturity. High-market-cap companies are typically seen as better established, with a greater market presence. Many investors believe that high-market-cap companies have a solid chance of providing reliable returns because they see them as more stable in the face of stock market volatility, with less extreme swings in the market value of their stocks.

In 2024, the 15 largest companies by market cap span multiple sectors, including energy, healthcare, financial services, and technology. And while no one sector dominates the list, over half of these companies are in or related to the tech sector; measured by market cap, the technology industry can be seen as one of the largest in the market (for interested in investing in AI).  

15 largest companies by market cap as of July 2024:

• Apple (AAPL)
• Microsoft (MSFT)
• NVIDIA (NVDA)
• Alphabet (GOOG)
• Amazon (AMZN)
• Saudi Armco (2222.SR)
• Meta Platforms (META)
• TSMC (TSM)
• Berkshire Hathaway (BRK-B)
• Eli Lilly (LLY)
• Tesla (TSLA)
• Broadcom (AVGO)
• Novo Nordisk (NVO)
• JPMorgan Chase (JPM)
• Walmart (WMT)

1. Apple (AAPL)

Apple is a technology company focused on mobile communications, media devices, computers, and related software. It’s most famous for its computers and mobile devices, like the iPhone, iPad, and Macintosh computers. But Apple’s product lines also expand into streaming, cloud storage, digital content stores, and licensing services. Most recently, Apple has stepped into augmented and virtual reality with its Apple Vision Pro headset.

In 2023, Apple was the first company to hit a market cap of $3 trillion. The company’s market capitalization dipped a bit in the first part of 2024, but overtook Microsoft’s place as most valuable company in terms of market capitalization on June 12th, 2024 after the announcement of their latest ventures into artificial intelligence. The company’s ‘Apple Intelligence’ is an artificial intelligence software that incorporates ChatGPT to bring a personal assistant-like feature that integrates into Siri and Writing Tools. Its entry into the world of artificial intelligence earned it the spot of top AI company by market cap.

• Market cap: $3.53 trillion
• Headquarters: Cupertino, CA
• Founded: 1976
• Sector: Technology
• Company focus: Software and hardware

2. Microsoft (MSFT)

Microsoft is considered one of the wealthiest companies in the world, and is currently the largest company by market cap. The technology giant develops and licenses a wide range of software, cloud, and hardware products spanning computing, productivity, business products, gaming, AI, and more. Microsoft Windows is the world’s most widely used computer operating system, with more than 64% of the market share. Most recently, Microsoft has focused on bringing AI into its search engine, Bing. It also partnered with OpenAI’s generative image generator, DALL-E, to develop generative AI tools. 

In June 2024, Microsoft introduced a new category of PCs featuring processors with integrated NPUs, enabling them to handle more AI tasks independently of cloud computing.

• Market cap: $3.37 trillion
• Headquarters: Redmond, WA
• Founded: 1975
• Sector: Technology
• Company focus: Software and hardware

3. NVIDIA (NVDA)

NVIDIA is a PC hardware and software company best known for producing graphics processing units (GPUs) and, most recently, AI hardware and software. Their products are used primarily in gaming, professional visualization, data centers, and automotive sectors. As of the beginning of 2024, NVIDIA had the third highest market cap and held approximately 80% of the global market share in GPU semiconductor chips. In 2022, OpenAI’s ChatGPT chatbot was launched, powered by 10,000 NVIDIA GPUs, connecting NVIDIA heavily to the AI market. 

On June 10, 2024, the company enacted a 10:1 stock split. This essentially means for every one share of the company’s stock that someone would own, they will now have ten shares. The overall value of the investment stays the same, but the price of each individual share is reduced to one-tenth of its previous price.

• Market cap: $3.17 trillion
• Headquarters: Santa Clarita, CA
• Founded: 1993
• Sector: Technology
• Company focus: PC hardware and AI

4. Alphabet (GOOG)

Alphabet Inc. is a holding company that includes Google and what it terms “Other Bets.” Google is most well-known for its search engine, which held 95.36% of the global search market share in February 2024. Beyond search, Google has an extensive product offering, which includes multiple online services (Gmail, Maps, YouTube, Google Cloud, Chrome, etc.), advertising, and hardware. The “Other Bets” part of the company’s products includes internet and television services, Google Home and Nest devices, the Pixel smartphone, and licensing and R&D services. 

• Market cap: $2.29 trillion
• Headquarters: Mountain View, CA
• Founded: 1998
• Sector: Communication services
• Company focus: Technology, internet products, advertising

5. Amazon (AMZN)

Amazon operates primarily in the e-commerce and technology sectors. It offers a wide range of products and services, most famously its Amazon.com e-commerce platform, which is the largest in the world. Amazon is also known for Amazon Web Services (AWS) cloud computing solutions, which include machine learning, analytics and data lakes, the Internet of Things, storage, and more. Additionally, Amazon offers advertising and streaming services. In February 2024, the company joined the Dow Jones Industrial Average (DJIA), replacing Walgreens on the list of 30 blue chip companies.

• Market cap: $2.02 trillion
• Headquarters: Seattle, WA
• Founded: 1994
• Sector: Consumer cyclical 
• Company focus: E-commerce and cloud services

6. Saudi Aramco (2222.SR)

Saudi Arabian Oil (Saudi Aramco) is an energy and chemicals company owned by the Saudi Arabian government. It is the world’s largest oil producer, with operations comprising crude oil and natural gas exploration, production, transportation, and international sales. In 2022, Saudi Aramco became the second-largest company in the world by market value; two years later, it’s still one of the largest companies by market cap.  

• Market cap: $1.81 trillion
• Headquarters: Dhahran, Saudi Arabia
• Founded: 1933
• Sector: Energy
• Company focus: Energy and chemicals

7. Meta Platforms (META)

Meta Platforms is a technology company that owns Facebook, Instagram, WhatsApp, Meta Quest virtual reality, and Oculus. While a majority of Meta’s revenue still comes from advertising, it also develops mobile devices, personal computers, virtual reality headsets, software, social media platforms, and apps. Since 2021, Meta has been investing in virtual reality through the metaverse.

In 2024, Meta shifted its focus towards incorporating generative AI into its products. In February, Meta announced plans to differentiate between real and AI-generated imagery and videos on its platforms, notifying users of photorealistic AI content. By June, the company revealed its intention to launch free AI chatbots on WhatsApp as a monetization strategy.

• Market cap: $1.26 trillion
• Headquarters: Menlo Park, CA
• Founded: 2004
• Sector: Communication services
• Company focus: Social media, advertising, virtual reality

8. TSMC (TSM)

Taiwan Semiconductor Manufacturing Co. (TSMC) is Taiwan’s most valuable company. It manufactures, tests, and sells circuits and other semiconductors. These semiconductors are then used in a vast number of technology products, including information applications, communication systems, industrial equipment, and consumer electronics such as PCs, digital TVs, and gaming consoles. TSMC’s products are also used to power AI solutions. 

• Market cap: $971.61 billion
• Headquarters: Hsinchu, Taiwan
• Founded: 1987
• Sector: Technology
• Company focus: Integrated circuits and semiconductor products

9. Berkshire Hathaway (BRK-B)

Berkshire Hathaway is a holding company with subsidiaries in a wide range of sectors, including insurance, railroads, energy, manufacturing, wholesale distribution, and finance. Insurance provider Geico is its largest subsidiary by revenue. The company is majority controlled by famed investor Warren Buffet, who became CEO in 1970. 

• Market cap: $916.34 billion
• Headquarters: Omaha, NE
• Founded: 1839
• Sector: Financial services
• Company focus: Various industries

10. Eli Lilly (LLY)

Eli Lilly researches, develops, and markets products in the human pharmaceutical and animal health sectors. It is the world’s largest pharmaceutical company, with an annual gross profit of over $27 billion in 2023. The company’s largest revenue drivers are insulin, antidepressants, and weight-loss drugs. Much of its recent growth has been attributed to the acquisition of Sigilon Therapeutics, Versanis Bio, and DICE Therapeutics in 2023. 

On July 2nd, 2024, the company announced the FDA approved Kisunla™, its Alzheimer’s treatment for adults with early symptomatic Alzheimer’s disease which could significantly slow cognitive decline.

• Market cap: $853.94 billion
• Headquarters: Indianapolis, IN
• Founded: 1876
• Sector: Healthcare
• Company focus: Pharmaceuticals

11. Tesla (TSLA)

Tesla operates in two primary sectors: automotive and energy generation and storage. One of the largest electric vehicle companies in the world, Tesla develops, manufactures, and sells fully electric vehicles, many of which use AI technology. Tesla is also one of the world’s biggest suppliers of solar panels and battery energy storage systems for solar power. 

• Market cap: $791.65 billion
• Headquarters: Austin, TX
• Founded: 2003
• Sector: Consumer cyclical
• Company focus: Automotive and energy

12. Broadcom (AVGO)

Broadcom is a technology company that designs, develops, and sells semiconductor and infrastructure software solutions. Its semiconductor business includes semiconductors focused on digital and mixed signals and Internet protocol (IP) licensing. Mainframe and enterprise software solutions and fiber channel storage area networking comprise the infrastructure software portion of the business line. Like many semiconductor businesses, Broadcom is capitalizing on AI investment alongside its VMware sales. 

On July 12th, 2024, Broadcom announced a 10:1 stock split, meaning each existing share will be divided into ten shares. While the number of shares an investor owns increases tenfold, the total value of the investment remains unchanged, with the price of each individual share now being one-tenth of its prior value.

• Market cap: $791.64 billion
• Headquarters: Palo Alto, CA
• Founded: 1961 (HP Associates), 2016 (Broadcom Limited)
• Sector: Technology
• Company focus: Semiconductor products and software

13. Novo Nordisk (NVO)

Novo Nordisk is a global healthcare and pharmaceutical company focused on two primary business units: diabetes and weight-loss drugs and biopharmaceuticals. Its research and development of the in-demand drugs Ozempic and Wegovy have driven significant revenue in recent years.

In 2023, it became Europe’s most valuable company, due in part to the growing popularity of  Ozempic and Wegovy. The company has recently faced scrutiny from its decision to pull Levemir insulin from the U.S. market.

• Market cap: $636.17 billion
• Headquarters: Bagsværd, Denmark
• Founded: 1958
• Sector: Healthcare
• Company focus: Pharmaceuticals

14. JPMorgan Chase (JPM)

JPMorgan Chase (Chase) is the biggest bank in the U.S., with total assets worth around $3.4 trillion in 2023. Chase is engaged in consumer and community banking, corporate and investment banking, commercial banking, and asset management. This includes a wide variety of banking services (such as ATMs, online, mobile, and bank financial branches), brokerages, treasury and security products, lending, and investment and wealth management services. 

• Market cap: $588.52 billion
• Headquarters: New York, NY
• Founded: 1799
• Sector: Financial services
• Company focus: Banking and investing

15. Walmart (WMT)

Founded in 1962 by Sam Walton, Walmart is one of the world’s largest multinational retail corporations that operates a vast network of discount department stores and grocery stores. Being one of the largest companies by revenue and the largest private employer globally, Walmart is known for its low prices and extensive product range, available both in physical stores and online.

• Market cap: $556.93 billion
• Headquarters: Bentonville, AR
• Founded: 1962
• Sector: Consume staples
• Company focus: Retail

What to consider when researching stocks

Investing in the stock market always comes with risk, and researching companies can help you decide whether buying their stock is the right choice for you. Market capitalization is one way to gauge a company’s size and maturity, but it isn’t the only factor to consider when researching stocks. 

As you decide which companies to invest in, you’ll also want to weigh factors such as:

• Company financials: revenue, gross profit, net income, P/E ratio, earnings reports
• Business factors: leadership turnover, growth strategy, competitive advantages
• Industry trends: historical and current growth, emerging innovations, news reports 

Investing in the largest companies by market cap

Individual stocks in the largest companies by market cap can be expensive; some stocks cost hundreds of dollars per share. If you use a brokerage that offers fractional shares, you can purchase a portion of a single share, which can make investing in large-market-cap companies more accessible.  

Another option is to invest in an S&P 500 index fund through a mutual fund or ETF. The S&P 500 tracks the 500 largest companies by market cap in the U.S. These index funds allow you to invest in a basket of companies in the S&P 500, providing diversity for your portfolio and giving you exposure to some of the largest companies even if you don’t have a big budget for investing.

If you invest with Stash, you can buy fractional shares of the largest companies by market cap, invest in a fund that tracks the S&P 500, or both. And you can get started today no matter what your budget.

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