In this piece, we will take a look at the top 20 most valuable American companies today. For more companies, head on over to the top 20 most valuable American companies today.
5. NVIDIA Corporation (NASDAQ:NVDA)
Market cap as at 27th October 2023 (in $ billions): 1,000
NVIDIA Corporation (NASDAQ:NVDA) is likely one of the biggest success stories of 2023, with it share price increasing by nearly 183% YTD 2023, allowing it to cross the $1 trillion market cap threshold and be counted among the most valuable American companies today. Most of this success can be attributed to NVIDIA Corporation (NASDAQ:NVDA) pivoting successfully to AI, which it mentioned in its Q3 2023 earnings call, stating “Year-on-year growth was driven primarily by leading U.S. cloud providers and a broadening set of consumer Internet companies for workloads such as large language models, recommendation systems and generative AI. As the number and scale of public cloud computing and Internet service companies deploying NVIDIA AI grows our traditional hyperscale definition will need to be expanded to convey the different end market use cases. We will align our data center customer commentary going forward accordingly. Other vertical industries, such as automotive and energy, also contributed to growth with key workloads relating to autonomous driving, high-performance computing, simulations and analytics.”
4. Amazon.com, Inc. (NASDAQ:AMZN)
Market cap as at 27th October 2023 (in $ billions): 1,320
The most valuable retailer in the world, Amazon.com, Inc. (NASDAQ:AMZN) saw its share price jump by nearly 50% YTD 2023.
Diamond Hill Capital shared its thoughts on Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2023 investor letter:
“Among our top contributors were insurance company American International Group (AIG), auto retailer CarMax and global online retailer Amazon.com, Inc. (NASDAQ:AMZN).
Amazon’s management team has been working to improve retail profitability, and Q1 results showed progress. In the case of Amazon’s web services (AWS), the market has shifted its focus from where growth will bottom in the near term to how AI can help accelerate the adoption of public cloud services in the future. We believe Amazon’s competitive advantages will continue to grow and that the business has the potential to grow faster than the overall economy in the coming years.”
3. Alphabet Inc. (NASDAQ:GOOG)
Market cap as at 27th October 2023 (in $ billions): 1,536
While Alphabet Inc. (NASDAQ:GOOG) has enjoyed a stellar 2023, with its stock price rising by over 37% so far, its Q3 2023 earnings have been disappointing to say the least, as revenue came in under analyst expectations. In just the last 10 days, Alphabet Inc. (NASDAQ:GOOG) has seen its share price fall by 10%.
2. Microsoft Corporation (NASDAQ:MSFT)
Market cap as at 27th October 2023 (in $ billions): 2,451
Microsoft Corporation (NASDAQ:MSFT) has been making major strides in the AI sector, after purchasing OpenAI, creators of Chat GPT, for $10 billion. Now, Microsoft Corporation (NASDAQ:MSFT) is working on a Chat GPT style AI assistant, which can not only attend meetings for you, but can also send emails on your behalf. Microsoft Corporation’s (NASDAQ:MSFT) investment in AI is said to have helped stabilize its cloud business, as in Q3 2023, revenue jumped by 13% as compared to the previous quarter. Overall, Microsoft Corporation (NASDAQ:MSFT) has seen its market cap increase by nearly 38% YTD 2023 and is looking to challenge Apple to become America’s most valuable company.
1. Apple Inc. (NASDAQ:AAPL)
Market cap as at 27th October 2023 (in $ billions): 2,630
Topping the list of the 20 most valuable companies in America today is Apple Inc. (NASDAQ:AAPL). In October YTD, Apple Inc. (NASDAQ:AAPL) gained over 34% in share price, despite a decline recently after the Chinese government was said to have banned iPhones for government officials. In the most recent quarter, Apple Inc. (NASDAQ:AAPL) paid around $24 billion to its shareholders through dividends alone.
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