(Reuters) – Nvidia (NASDAQ:) has emerged as the biggest global gainer by market cap for 2024, driven by growing interest in artificial intelligence and strong demand for its AI-focused chips across various industries.
The chipmaker’s market value rose by more than $2 trillion last year, reaching $3.28 trillion at the end of 2024, making it the second most valuable listed company in the world. Its market value reached $1.2 trillion at the end of 2023.
Meanwhile, Apple (NASDAQ:) continued to lead global companies in terms of market capitalization, approaching a historic valuation of $4 trillion. The rise was driven by investor enthusiasm for the company’s expected AI improvements, which are intended to revitalize sluggish iPhone sales.
At the end of 2024, Microsoft (NASDAQ:) ranked third with a market value of $3.1 trillion, followed by Alphabet (NASDAQ:) Inc, and Amazon (NASDAQ:), each with an estimated value of about $2.3 trillion.
These technology companies boosted their global indices significantly in 2024, with the Nasdaq up 23.3% and the Nasdaq up 28.6%.
Despite soaring stock valuations, looming tariff tensions between the US and China, and the possibility of slowing US interest rate cuts, analysts remain optimistic about the continued strong performance of technology companies in 2025.
Wedbush’s Daniel Ives expects a 25% increase in tech stocks in 2025, and attributes the potential growth to a less regulatory environment under Donald Trump, strong upcoming AI initiatives, and a stable foundation for big tech companies and Tesla (NASDAQ:) in 2025 and beyond.
“We believe technology stocks will be strong in 2025 on the shoulders of the AI revolution and $2 trillion of additional AI capital over the next three years,” he said.
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