World’s most valuable firms satisfy investors in first half of 2024

Global equity markets broke record after record in the first half of the year as nine of the world’s top 10 firms with the highest capitalization satisfied investors.

Global risk appetite was influenced by expectations that the fight against inflation worldwide was coming to a close and that tight monetary policies would gradually loosen.

Stock markets were pushed to record highs on estimations that world economies would be able to overcome the fight against inflation without recessions and that corporate profitability would remain strong.

The world’s most valuable company changed several times in the first half of the year, though Windows maker Microsoft remained on top at the end of June.

In the top 10, Microsoft was followed by Apple, Nvidia, Alphabet (Google), Amazon, Saudi Aramco, Meta Platforms, Taiwan Semiconductor Manufacturing Company (TSMC), Berkshire Hathaway and Eli Lilly.

Microsoft dominated in the top spot in the first six months of the year with a value of $3.321 trillion and was above Apple and Nvidia as of last Friday, the final trading day of June.

Apple followed Microsoft with $3.229 trillion in value, after which came Nvidia with $3.038 trillion.

The rest in the top 10 were Alphabet (Google) with $2.258 trillion, Amazon with $2.011 trillion, Saudi Aramco with $1.788 trillion, Meta Platforms with $1.278 trillion, TSMC with $901.4 billion, Berkshire Hathaway with $877.88 billion and Eli Lilly with $815.2 billion.

Nvidia earns most in stock markets among top 10

US-based artificial intelligence (AI) chipmaker Nvidia was the best-performing company in the share markets among the top 10, as its stock price skyrocketed by 149.5% to $123.54 since January.

Taiwanese semiconductor maker TSMC followed Nvidia, as its stock price rose 67.1%, while the shares of pharmaceutical firm Eli Lily gained 55.3%.

Saudi Aramco remains sole losing firm among top 10

Facebook parent Meta Platforms was in fourth spot among the top 10 most valuable firms, as its stock price climbed 42.5% in January-June, reaching $504.22.

Meanwhile, Alphabet (Google) shares rose by 30.2% to $183.42, Amazon by 27.2% to $193.25, and Microsoft by 18.9% to $446.95.

At the same time, Berkshire Hathaway shares climbed 14.1% to $406.80 and Apple 9.4% to $210.62.

As for Saudi Aramco, the petroleum firm, ranked seventh worldwide as of the end of June, lost 16.1% in the first half of the year, as its stock price fell from $8.80 to $7.38, becoming the only company among the top 10 to negatively perform in share markets since January.