When it comes to measuring a company's value, market capitalization is a key metric that investors use to determine the worth of a company. Market capitalization refers to the total value of a company's outstanding shares, calculated by multiplying the current stock price by the total number of outstanding shares. In the United States, the five companies with the highest market capitalization as of June 2, 2023 are Apple, Microsoft, Alphabet (Google), Amazon, and NVIDIA.
Apple Inc. takes the top spot with a market capitalization of $2.846 trillion. The company, founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, is known for its innovative technology products such as the iPhone, iPad, and Mac computers. As of June 2, 2023, Apple's share price is $180.95.
Microsoft Corporation (MSFT) comes in second with a market capitalization of $2.494 trillion. Founded in 1975 by Bill Gates and Paul Allen, Microsoft is a leader in software development and produces popular products such as Windows, Office, and Xbox. As of June 2, 2023, Microsoft's share price is $335.40.
In third place is Alphabet Inc. (GOOG), the parent company of Google, with a market capitalization of $1.586 trillion. Established in 1998 by Larry Page and Sergey Brin, Google is the world's most popular search engine, but Alphabet also has other ventures such as self-driving cars and life sciences research. As of June 2, 2023, Alphabet's share price is $125.23.
Fourth on the list is Amazon.com, Inc. (AMZN), the world's largest online retailer, with a market capitalization of $1.211 trillion. Founded by Jeff Bezos in 1994, Amazon has since expanded into a wide range of industries including cloud computing, streaming media, and brick-and-mortar retail with the acquisition of Whole Foods Market. As of June 2, 2023, Amazon's share price is $124.25.
Last but not least is NVIDIA Corporation (NVDA) with a market capitalization of $971.377 billion. NVIDIA is a technology company that designs graphics processing units (GPUs) for gaming, artificial intelligence, and autonomous vehicles. As of June 2, 2023, NVIDIA's share price is $393.27.
In conclusion, these five companies represent the cream of the crop in the US business landscape, and their high market capitalizations reflect the confidence that investors have in their ability to remain leaders in their respective industries. Though rankings can change over time, these companies have shown a history of innovation and growth that make them well worth watching for the years to come.