World’s most valuable technology companies in 2024

Tech companies have experienced enormous growth in recent decades, as their innovative products and disruptive business models have transformed the way we now live. These technology leaders have historically been some of the best investments to own and many of them are now among the largest and most valuable companies in the world.

As the economy has become more globalized, the potential markets for these companies have expanded where one decision can have ripple effects across industries and around the world. Here’s what else you should know about the world’s most valuable tech companies.

10 most valuable tech companies in March 2024

Facts about the world’s largest tech companies

Investing in big tech

Investing in technology companies may sound exciting and holds the potential for high returns, but the process is really no different than it is for investing in any other company.

You’ll want to think about the underlying business and how, or if, it makes money, its competitive positioning, and growth prospects. Ultimately, you’ll want to have an estimate of how much cash you think the business can produce and whether that cash will be shared with investors or reinvested back into the business at attractive rates. In the end, you want to make sure you’re paying a reasonable price relative to the cash that will be produced by the business.

It’s easy to get attracted to tech stocks that move around a lot and seem to have prices that go up every day. But it’s really important to research the actual businesses, because when times get tough, as they did for many companies during the bear market of 2022, you need to know whether to stick it out or not. Bear markets are inevitable for long-term investors, so it’s important to understand a company’s long-term outlook during those times.

The world’s most valuable tech companies

Apple (AAPL)

• Revenue: $383.3 billion
• Employee count: 161,000
• Claim to fame: iPhone, iPad, MacBook

Apple makes some of the world’s most popular products including the iPhone, iPad and Mac laptops. The company has also expanded into more accessories such as AirPods, Apple Watch and most recently, Vision Pro. Apple co-founder Steve Jobs helped to lead the company from the brink of bankruptcy in the late 1990s to the giant it is today by introducing innovative products that consumers love. Since Jobs’ death in 2011, CEO Tim Cook has kept the company humming and made it one of the most valuable companies in the world.

Microsoft (MSFT)

• Revenue: $211.9 billion
• Employee count: 221,000
• Claim to fame: Excel, PowerPoint, Xbox

Microsoft is older than many of the companies on this list, but it is also one of the strongest. Its Windows operating system helped to lead the growth of the personal computer market and its Office products such as Microsoft Excel and Microsoft PowerPoint are ubiquitous in the corporate world. The company has also built a sizable presence in the gaming market through its Xbox products, its acquisition of Mojang (maker of Minecraft) in 2014 and its 2022 acquisition of Activision Blizzard. The company’s stock languished for many years following the bursting of the dot com bubble, but it has been one of the best-performing tech stocks under CEO Satya Nadella.

Alphabet (GOOG/GOOGL)

• Revenue: $307.4 billion
• Employee count:182,502
• Claim to fame: Google, YouTube, Google Cloud

Google got its start as a search engine that helps to organize the information on the internet. Billions of people use Google to find what they’re looking for online and the company has used its leading search position to build an online advertising behemoth. Google’s core search business is enormously profitable, which has allowed it to expand into other areas. It acquired the video site YouTube, the Android operating system used on mobile devices, and has even expanded into self-driving cars through its Waymo subsidiary. Along with Meta and Amazon, the companies account for the majority of digital ad spending.

Amazon (AMZN)

• Revenue: $574.8 billion
• Employee count: 1.5 million
• Claim to fame: Amazon Prime, Kindle, Amazon Web Services

Amazon got its start by selling books online in the late 1990s, but it’s safe to say that they’ve expanded their offering since then. Today, you can buy just about anything from the “everything store” and its Prime service delivers to customers in two days or less. Amazon has also expanded into the streaming world through its Prime Video service, which became the exclusive broadcaster of NFL Thursday Night Football in September 2022. The company was also a pioneer in the cloud computing industry and its Amazon Web Services segment grew nearly 40 percent to more than $90 billion in revenue in 2023.

Tesla (TSLA)

• Revenue: $96.8 billion
• Employee count: 100,000
• Claim to fame: Electric vehicles

Tesla is a leader in the development and production of electric vehicles. Its sleek vehicles are highly sought after by consumers despite their hefty price tags and long wait times for delivery. The company’s business model is also unique from most automakers because it doesn’t use the traditional dealership model to sell vehicles. Founder and CEO Elon Musk is one of the most watched executives in business and, while highly accomplished, is prone to erratic behavior. Musk sold almost $23 billion of his Tesla shares in 2022, in part to fund his $44 billion purchase of Twitter. Tesla’s stock price has declined about 56 percent since reaching its November 2021 highs.

Meta Platforms (META)

• Revenue: $134.9  billion
• Employee count: 67,317
• Claim to fame: Facebook, Instagram, WhatsApp

Meta Platforms, better known as the parent company of Facebook, Instagram and WhatsApp, is the largest social media company in the world. Founded in 2004 out of CEO Mark Zuckerberg’s Harvard dorm room, the company has grown to over  3 billion monthly active users, as of February 2024. The company’s platforms have added features in recent years — including Reels and Threads — to fight off competition from newer social media companies such as Snapchat and TikTok.

Meta suffered a brutal 2022, caused in part by the company’s significant investments (and losses) in the Metaverse. But the company has made quite a turnaround. The company recorded its most profitable year ever in 2023, according to its last earnings report. It has since announced stock buybacks and unveiled its first cash dividend, a positive albeit unusual move for a growing tech company.

Taiwan Semiconductor Manufacturing Co. (TSM)

• Revenue: $ 625.5 billion
• Employee count: 70,000
• Claim to fame: Manufactures semiconductors for Apple, Qualcomm, others

Though many people may not be familiar with it, Taiwan Semiconductor Manufacturing Co., or TSMC, is one of the most important companies in the world. It manufactures chips that go into many different electronic devices such as iPhones, computers and automobiles. The chips are designed by other companies and manufactured by TSMC. An investment in the company comes with additional geopolitical risk because of its location in Taiwan and the tension that exists with China. Because chip manufacturing requires massive upfront investments, experts say it will be difficult for competitors to catch up with TSMC any time soon.

NVIDIA (NVDA)

• Revenue: $50.9 billion
• Employee count: 26,196
• Claim to fame: Semiconductors, high-end graphics processing units, AI

Nvidia began as a maker of graphics chips used in video games but is now a powerhouse in the next tech boom — artificial intelligence. The demand for the chipmaker’s semiconductors, essential for powering AI applications, has skyrocketed. Compared to the same time the previous year, their earnings in the last quarter of 2023 tripled. After hitting a $1 trillion market cap in June 2023, Nvidia broke records again when it briefly surpassed a $2 trillion market cap in February 2024 following its latest earnings report. With the AI boom in full swing, the company expects to grow for years to come.

Broadcom

• Revenue: $35.8 billion
• Employee count: 20,000
• Claim to fame: Semiconductors and infrastructure software

Broadcom is a major player in the world of semiconductors and infrastructure software. They design and manufacture chips that are essential components in data centers, networking equipment and smartphones. In recent years, Broadcom acquired companies like Brocade, CA Technologies, and most recently, the virtualization software giant VMware. These acquisitions have expanded Broadcom’s software portfolio and solidified its position as a tech industry leader.

Its focus on growth hasn’t been without bumps, though. Concerns about Broadcom’s high debt load after some of these acquisitions caused its stock prices to fluctuate in 2022. However, the company’s core semiconductor business remains strong, and the recent acquisition of VMware is expected to be a major revenue driver in the coming years. Broadcom’s stock climbed steadily higher throughout 2023, and rose nearly 25 percent during the first two months of 2024.

Samsung Electronics (SMSN.IL)

• Revenue: $51 billion
• Employee count: 270,372
• Claim to fame: TVs, appliances, memory chips

Samsung was founded in 1969 and has become one of the leading providers of electronics in the world. In 2021, Samsung was the leader in global television set market share for the 16th consecutive year with a share of nearly 30 percent. The company also produces other appliances such as washing machines and refrigerators, while also offering air conditioners and smartphones. Samsung is also one of three major companies that manufactures memory chips that are used in a wide variety of end-products including phones, computers, data centers and cars.

Bottom line

The tech industry has created some of the world’s most valuable companies, which have also been some of the best investments. Be sure to thoroughly research any company before investing, or consider purchasing an ETF focused on the tech sector if you’re looking for a diversified approach that requires less due diligence. While many tech companies are innovative and exciting, investors ultimately care about the cash and profits a business can produce.

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.