Market capitalization, or market cap, is a widely used metric to determine a company’s value as determined by the stock market. It is easily calculated by multiplying a company’s outstanding shares by its current stock price, providing a snapshot of its worth.

In the latest ranking of the world’s 50 most valuable companies by market cap, based on August 26, 2024, data from Companiesmarketcap.com, the dominance of the technology sector is evident. This list, color-coded by industry, reveals the significant presence and influence of tech giants in global stock markets.

At the top, we see familiar names: Apple leads with a market cap of $3.45 trillion, followed by Nvidia at $3.11 trillion, and Microsoft at $3.07 trillion. Alphabet and Amazon complete the top five, highlighting the sheer scale and impact of American tech companies.

However, it is not just the tech sector that commands attention. Saudi Aramco, a leader in the energy sector, ranks sixth with a market cap of $1.8 trillion. Meanwhile, Berkshire Hathaway, Warren Buffett’s conglomerate, just hit the trillion-dollar club, after having risen by nearly 130% over the past five years.

The world’s 50 largest companies collectively represent $34 trillion in market cap, with Technology leading the way at $19.3 trillion, followed by Healthcare at $3.8 trillion. Conglomerates like Berkshire Hathaway are not far behind, accounting for $1.5 trillion of the total market cap.

Taiwan Semiconductor Manufacturing Company (TSMC) also makes a notable appearance, reflecting the global reach of the technology sector. Listed on the New York Stock Exchange, TSMC’s shares have surged over 60% year-to-date in 2024, positioning it as a key player in Asia’s tech landscape.

China’s Tencent, once valued at a peak of $916 billion in February 2021, now holds a market cap of approximately $450 billion. Although it remains China’s most valuable company, it is clear that its valuation has faced significant adjustments.

As the data shows, technology continues to dominate, but sectors like energy, healthcare, and conglomerates also hold substantial weight in the global market.