The chipmaker’s market value soared by over US$2 trillion, reaching US$3.28 trillion by year-end, making it the second-most valuable publicly listed company worldwide. Nvidia’s valuation had stood at US$1.2 trillion at the close of 2023.
Apple retained its position as the world’s most valuable company, approaching a historic US$4 trillion valuation. The tech giant’s rise was driven by investor anticipation of AI-enhanced features to rejuvenate iPhone sales.
Microsoft held the third spot with a market value of US$3.1 trillion, followed by Alphabet and Amazon, both valued at approximately US$2.3 trillion. These companies played a significant role in boosting global market indexes in 2024, with the S&P 500 gaining 23.3% and the Nasdaq climbing 28.6%.
While analysts note potential challenges for 2025, including US-China tariff tensions and the pace of US interest rate cuts, optimism around tech stocks remains high. Daniel Ives of Wedbush Securities projects a 25% growth in the sector, citing reduced regulatory hurdles under Donald Trump, continued AI innovation, and a stable outlook for Big Tech and Tesla.
“We believe tech stocks will be robust in 2025 on the shoulders of the AI revolution and US$2 trillion+ of incremental AI cap-ex over the next three years,” Ives said, highlighting the transformative impact of AI investments on the tech industry’s future.
