World’s top 10 firms gain nearly $4.2T amid Middle East war
Nvidia sets new record surpassing $5T threshold, while Alphabet sees strongest dollar-based increase with $1.065T since end of February
The total market value of the world’s top 10 most valuable firms surged 16.69% or by $4.183 trillion, reaching $29.24 trillion since the start of the war in Iran in late February.
The world’s leading companies’ market values were fluctuating prior to the US and Israel’s joint attacks against Iran on Feb. 28.
As of the end of March, the total market cap of the top 10 firms fell 4.3% or by $1.077 trillion over the one-month period versus the market close prior to the tensions, falling to $23.98 trillion.
Major investment banks’ recommendations to buy and expectations over artificial intelligence (AI) investments drove the market value of these firms especially amid geopolitical tensions reportedly easing, bringing the total market value of the top 10 firms to $27.862 trillion by the end of April, marking a monthly rise of 16.19% or $3.882 trillion.
The value of these firms surged 4.94% or $1.3775 trillion as of the latest market close on May 8 versus the end of April, bringing the total up to $29.24 trillion.
Chipmaker Nvidia set a new record in April with $5.229 trillion in market cap, surpassing the $5 trillion threshold following a $67.797 billion loss in March.
Nvidia was unable to maintain this level after profit-taking at the end of the month but it later rebounded and surpassed the threshold again.
Closely following Nvidia, Alphabet reached a market value of $4.834 trillion, followed by Apple with $4.309 trillion — the two firms’ market values exceeded the $4 trillion level.
Microsoft came in fourth among the top 10 with a market value of $3.084 trillion, followed by Amazon with $2.933 trillion, Broadcom with $2.036 trillion, TSMC with $1.89 trillion, Saudi Aramco with $1.769 trillion, Tesla with $1.609 trillion, and Meta with $1.5475 trillion.
Saudi Aramco’s market value surged by $158 billion, while Tesla’s increased $98.373 billion in the same period. Meta was the only firm to lose value, shedding $92.62763 billion.
Based on the percentage increase since the war, Broadcom led with a 34.38% surge, followed by Amazon with 30.12% and Alphabet with 28.24%.
*Writing by Emir Yildirim
