Tech Dominates World’s Most Valued Companies

American multinational technology company, Apple Inc., on Thursday hit the $1 trillion value mark.

The company, headquartered in Cupertino, California, became the first in the United States to achieve the trillion-dollar milestone after its stocks crossed $207.04 a share.

Its new all-time high is $208.38. The company is now up more than 20% this year.

CNN reports that the tech giant rallied past the trillion level thanks to solid sales of the iPhone 8 and X — particularly in China and Japan — and surging services revenue from the App Store.

According to Market capitalization, here is a breakdown of the top-valued companies in the world.

As expected, Apple tops the standings with a little above $1 trillion market capitalization, cementing its place as the most valuable company in the world.

Amazon (AMZN), Google owner Alphabet (GOOGL) and Microsoft (MSFT) have all rallied to near record highs this year, too. Amazon is worth $894.7 billion while Google and Microsoft are each now worth $857.8 billion and $825.8 billion respectively.

After suffering one of its worst trading days last week, plunging about 20 percent, Facebook is on fifth spot with a market capitalization of $509 billion.

Completing the top 10, are billionaire businessman, Warren Buffet’s Berkshire Hathaway with $491.8 billion, E-commerce company, Alibaba ($473.3 billion), Chinese tech giant, Tencent ($428.4 billion).

Others are, American multinational investment bank, JP Morgan Chase, with $390.4 billion, and American pharmaceutical and manufacturing giant, Johnson and Johnson with a market capitalization of $352.1 billion.

Chart showing top 10 companies based on market capitalisation, as of August 2 pic.twitter.com/cW91Y8ihU4

— AFP news agency (@AFP) August 3, 2018