US Tech Stocks Soar to Record Highs in 2024

Despite a late-year stock market downturn, 2024 was a record-breaking year for U.S. equities, especially in the technology sector. According to data from CompaniesMarketCap, the ten largest U.S. tech companies collectively added $6.6 trillion to their market capitalization—a remarkable 51.31% increase compared to 2023. Apple took center stage as the world’s most valuable company, reaching a market cap of $3.8 trillion.

Meanwhile, Nvidia experienced the most dramatic growth, with its valuation surging by more than $2 trillion in 2024—a staggering 175.3% year-over-year (YoY) increase. Broadcom also saw impressive gains, rising from $461 billion in 2023 to $1.1 trillion by the end of 2024. Alphabet overcame challenges such as declining search engine quality and Department of Justice interventions, growing its valuation by $592 billion, or 33.71%, to $2.3 trillion. Meta Platforms and Tesla Motors returned to the $1 trillion club, with YoY growth of 64.02% and 69.52%, respectively. Even smaller firms like Oracle and Salesforce delivered strong performances, with Oracle’s market cap rising 61.08% to $467 billion and Salesforce growing 26.14% to $321 billion. The artificial intelligence (AI) boom was a major catalyst behind this unprecedented growth. Nvidia, supplying microchips pivotal for AI developments, became the sector’s standout performer. Microsoft, credited with jumpstarting the AI trend through its investments in OpenAI, grew more modestly, adding $364 billion (13.03%) to its valuation. Previously noted that between late 2022 and mid-2024, the top 10 AI companies collectively gained over $5.4 trillion in market cap. As the AI boom continues, tech giants capitalizing on this trend are expected to grow even further. However, the meteoric rise of big tech stocks has raised concerns among analysts and investors, drawing comparisons to past market bubbles, including the Dot-com era

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Chinese Stocks End 2024 on Upbeat Note After Three Years of LossesChinese stocks finished 2024 with their first annual gain in four years, defying global economic headwinds and fueled by government support measures.
La source: SABCNews - 🏆 37. / 51 Lire la suite »

If you invested R1,000 in these tech stocks at the start of 2024 here is what it would be worth todayWe calculated how much a R1,000 investment in some of the world’s biggest tech companies would have grown or reduced since the start of 2024.
La source: mybroadband - 🏆 11. / 67 Lire la suite »