List of Top 10 Biggest Companies of the World

Last year (in 2023), something big happened in the business world. TIME magazine and Statista, a research company, worked together to highlight 750 of the most important companies in the world. These companies are like the superheroes of business, making a huge impact on how things work and pushing new ideas forward. [1]. Among them, Big Tech takes precedence, with giants like Microsoft, Apple, Google (Alphabet), and Meta Platforms (Facebook) capturing the world's attention through unparalleled innovation and market dominion[1]. This emphasizes not only the sheer scale of these enterprises but also highlights sectors driving forward economic engines and setting benchmarks in employee satisfaction, environmental stewardship, and governance[1].

Diving into the essence of these titans, this article unfolds the narrative of not just technological marvels like Microsoft and Google but also encompasses diverse sectors represented by Visa, Johnson & Johnson, and Walmart, divulging into what makes them the top companies of the world. By exploring their journeys, revenue growth, and the impact of their corporate strategies on global markets, readers will gain insights into the anatomy of success—underpinned by rigorous employee satisfaction surveys and ESG data[1]. From tech to healthcare and retail, the narrative weaves through the fabric of industries that shape our everyday lives, offering a perspective on the dynamism and resilience that characterize the world's most influential companies[1][2].


List of Top 10 Biggest Companies of the World


Global Giants: Exploring the Top Companies of the World

Microsoft

Microsoft stands as a towering figure in the global tech landscape, showcasing a robust financial performance and significant market influence. Here's a detailed look at some key aspects of Microsoft's operations:

Financial Overview

  • Global Revenue and Net Income: In FY2023, Microsoft reported a staggering global revenue of $212 billion USD and a net income of $72 billion USD, underscoring its financial health and profitability [5].
  • Segment Performance: The revenue for Microsoft's Productivity and Business Processes segment reached $19 billion USD in Q1 2024, while its Intelligent Cloud segment generated $88 billion USD in FY2023 [5].
  • Research and Development: Microsoft's commitment to innovation is evident in its R&D expenditures, which totaled $25 billion USD in 2022 [5].

Market Position and Expansion

  • Software and Market Share: Microsoft is recognized as the largest software company in the world by sales revenue [5]. It dominates the desktop computer operating system market with a 68.15% share and holds substantial portions of the productivity software market (30% share in 2024) and the Infrastructure as a Service (IaaS) market (23% share) [5].
  • Cloud Computing: With 41% of companies running significant workloads on Azure, Microsoft is poised to rival Amazon in the cloud computing arena [5][7].
  • Strategic Acquisitions: The acquisition of Activision Blizzard is set to revitalize Microsoft's gaming division, while enhancements to Bing search engine with OpenAI's ChatGPT could intensify competition with Google [7].

Future Prospects and Valuation

  • Growth in Dynamics Services: The Dynamics Services Market is expected to grow significantly, with a projected compound annual growth rate (CAGR) of 15.54% from 2023 to 2031. The market size, valued at USD 5429.42 million in 2021, is anticipated to reach USD 12918.07 million by 2027 [8].
  • Market Capitalization: As of April 2023, Microsoft's market cap reached an impressive $2.254 trillion. This positions Microsoft as one of the top global companies by market cap, with a projection to hit $3.1 trillion in 2024 [6][10].

These figures not only highlight Microsoft's pivotal role in shaping technological advancements but also its strategic maneuvers to maintain and expand its market dominance.

 

Apple

Apple's Market Dynamics and Financial Health

  • Market Capitalization Trends: Apple's journey in market capitalization has been marked by significant fluctuations and remarkable growth. Starting from a modest $7.88 billion in 2004, the company reached a peak of $2.994 trillion in 2023, showcasing a staggering increase over two decades [11]. Despite a slight decrease to $2.667 trillion in 2024, Apple remains one of the top companies globally by market cap [10][11].
  • Revenue and Profitability: In fiscal 2023, Apple reported a revenue of $383.29 billion. Although this was a slight decrease from the previous year, it underscores the company's substantial scale and business volume. The gross margin for the first quarter of 2023 stood at 43.5%, indicating healthy profitability amidst global economic fluctuations [12][15].

Stock Performance and Investor Confidence

  • Share Price Insights: The share price of Apple as of mid-April 2024 was $169.32, with a minor increase in after-hours trading to $169.75 [13]. Over the past year, Apple's stock has seen a modest increase of 2.51% [11], with a significant surge of 58% in 2023, highlighting strong investor confidence and market approval [16].
  • Investment Outlook: Despite challenges like slowing growth and market issues in China, Apple is viewed favorably by investors due to its robust cash flow, popular product lineup, and effective shareholder return programs. Less than 70% of firms tracked recommend buying the stock, reflecting a cautious but optimistic investment stance [12][15].

Future Prospects and Innovations

  • Upcoming Products and Market Potential: Apple is gearing up to launch the Vision Pro, a virtual reality headset, in 2024. This marks its first major new computing platform since the Apple Watch in 2014, potentially opening new revenue streams [12]. Additionally, the iPhone 15 is projected to drive strong demand, with estimated sales of 220-230 million units for the fiscal year, supported by a significant portion of Apple's user base due for upgrades [16].
  • Strategic Market Movements: Apple's services segment is experiencing robust double-digit growth and is projected to be worth up to $1.6 trillion alone. This segment, combined with the anticipated success of the iPhone 15, presents a 'golden opportunity' for investors looking for substantial growth in the coming year [16].

 

Amazon

Amazon continues to assert its dominance in the global market, solidifying its position as one of the top companies worldwide with a market capitalization of $1.81 trillion in 2024 [10]. Here's a closer look at the diverse revenue streams and strategic expansions that underscore its market influence:

Revenue Streams and Market Influence

  • E-commerce Leadership: Amazon remains the world’s largest online retailer, offering a vast array of products including books, clothing, electronics, and music. In 2023, the company achieved a net revenue of approximately $576 billion, marking an increase from $514 billion in 2022 [17].
  • Diverse Revenue Sources: The bulk of Amazon's revenue comes from online retail product sales, complemented by third-party retail seller services, cloud computing services, and subscription services like Amazon Prime. Notably, online retail product sales were the largest revenue segment in 2022, generating about $220 billion globally [17][20].
  • Geographical Revenue Distribution: A significant portion of Amazon’s earnings originate from North America, with revenues reaching approximately $316 billion in 2022. International revenues were comparatively lower at about $118 billion, highlighting the regional strength of Amazon in the North American market [18].

Strategic Expansion and Innovation

  • Hardware and AI Innovations: Amazon has successfully expanded beyond e-commerce with hardware innovations such as the Kindle e-reader and the Alexa voice-controlled assistant. These products have not only diversified Amazon's business but also strengthened its presence in the consumer electronics market [17].
  • Global Expansion Plans: Looking forward, Amazon is set to enter the South African market in early 2024, a move that involves recruiting local sellers to broaden its global footprint and market reach [23].

Seller Dynamics and Advertising Growth

  • Seller Profitability and Growth: A remarkable 89% of Amazon sellers reported profitability, with 37% noting an increase in profits throughout 2022. This is indicative of the robust platform Amazon offers to third-party sellers despite rising operational costs [21].
  • Advertising Revenue Surge: Amazon's advertising sector witnessed a 27% year-over-year growth, reaching $14.7 billion in revenue. This growth is propelled by the increasing popularity of social media advertising among sellers, with 41% now utilizing platforms like Facebook and Instagram to reach customers [22][21].

Amazon's continued growth and innovation across multiple sectors not only reinforce its position as a leading global giant but also exemplify its strategic agility in adapting to changing market dynamics and consumer needs.

 

Google (Alphabet): Pioneering Innovation and Economic Impact

Economic Contributions and AI Advancements

  • Economic Impact: Google's services have significantly bolstered the U.S. economy, supporting $739 billion in economic activity for a diverse group of stakeholders including businesses, nonprofits, and developers [24].
  • AI Tools for Business: Google's AI innovations, such as the Gemini tool, are revolutionizing the advertising and business sectors by enabling companies to build effective ad campaigns, reach new customers quickly, and generate valuable business insights within minutes [24].
  • AI and Productivity: A substantial 82% of small business leaders utilizing AI technologies believe these tools will enhance their business productivity over the next two years, indicating a strong trust in AI's capabilities to transform operational efficiencies [24].

Training Programs and Workforce Development

  • Digital Skills Training: The 'Grow with Google' initiative has successfully trained over 11 million individuals across the U.S. in various digital skills, preparing the workforce for the demands of the modern technology landscape [24].
  • Career Certificates: Google's Career Certificate program has seen over 250,000 graduates in the U.S., with courses focused on critical fields such as Cybersecurity, Data Analytics, and IT Support, further contributing to job readiness in high-demand tech sectors [24].

Financial Performance and Market Influence

  • Revenue Growth: Google Cloud has shown a robust growth, reporting a revenue of $8.41 billion, which marks a 22% increase from the previous year, underscoring its expanding influence in the cloud computing domain [26].
  • Stock Performance: Alphabet's stock experienced a significant rebound with a 58% surge in 2023, recovering from a 39% decline the previous year, reflecting strong market confidence and investor interest [25].
  • AI Integration Across Services: Alphabet has seamlessly integrated AI technology across various products and platforms, including Gmail, Google Docs, and Google Cloud, enhancing functionality and user experience [25].

Strategic Focus and Future Outlook

  • Generative AI: The introduction of Gemini AI in Google Cloud showcases a leap in computational power, being five times more powerful than GPT-4, setting a new standard in generative AI capabilities [25].
  • Market Cap and Valuation: Alphabet continues to be a formidable force in the global market with a market capitalization of $1.84 trillion in 2024, ranking it among the top 10 biggest companies worldwide by market cap [10].
  • Balance Sheet Strength: Alphabet maintains a strong financial position with $111 billion in cash and equivalents and a minimal debt load of $13 billion, illustrating robust fiscal health and stability [30].

Google's strategic initiatives and innovations not only reinforce its position as a technological leader but also demonstrate its significant impact on global economic activities and workforce development.

 

Facebook (Meta Platforms): A Comprehensive Overview

Financial Performance and User Engagement

  • Market Capitalization: As of 2024, Meta Platforms ranks seventh among the top 10 biggest companies worldwide by market cap, valued at $1.26 trillion [10].
  • Revenue Growth: The company reported a Q4 2023 revenue of $40,111 million, marking a 25% year-over-year (YoY) increase, with the full-year revenue reaching $134,902 million, a 16% YoY growth [31].
  • Net Income Surge: Meta Platforms experienced a significant rise in net income, with Q4 2023 figures at $14,017 million (201% YoY growth) and full-year net income at $39,098 million (69% YoY growth) [31].
  • User Base: Daily active people (DAP) across Meta's family of apps reached 3.19 billion in Q4 2023, an 8% increase YoY, while monthly active people (MAP) stood at 3.98 billion, a 6% YoY growth [31].

Operational Insights and Strategic Initiatives

  • Advertising Dynamics: In Q4 2023, ad impressions increased by 21% YoY, and the average price per ad rose by 2%. Throughout 2023, ad impressions grew by 28% YoY, although the average price per ad decreased by 9% [31].
  • Cost Management: Meta Platforms reduced its Q4 2023 costs and expenses by 8% YoY to $23,727 million, demonstrating effective cost control measures [31].
  • Investment in Innovation: The company is enhancing efficiency through investments in AI tools that assist engineers in faster code development [33].
  • Workforce and Operational Adjustments: As of the end of 2023, Meta Platforms streamlined its operations, reducing its workforce by 22% YoY to 67,317 employees, reflecting a strategic shift towards more lean and focused project management [31].

Future Outlook and Market Strategies

  • Financial Projections: For Q1 2024, Meta Platforms anticipates revenue between $34.5 and $37 billion. The company expects full-year 2024 expenses to be between $94 and $99 billion, with capital expenditures projected at $30 to $37 billion [31].
  • Strategic Focus: Meta Platforms continues to prioritize cost leadership and market expansion, aiming to broaden its user base and enhance digital advertising revenues. The company's strategic adjustments include focusing on high-impact projects and optimizing operational efficiency [35].
  • Engagement and Commerce: Meta Platforms remains a leading platform for social commerce, with significant user interaction with businesses. Over a billion people connect with businesses weekly through Meta's platforms, highlighting its pivotal role in digital commerce and advertising [34].

Meta Platforms' robust financial performance, strategic cost management, and continued focus on innovation and market expansion underscore its status as a global leader in social media and digital advertising.

 

Tencent: A Titan in Technology and Media

Corporate Profile and Financial Health

  • Global Standing: Tencent is prominently positioned at number 147 in the Global 500 Ranking for 2023, demonstrating its substantial impact on the tech industry [37].
  • Financial Performance: The company reported robust revenues of $82,440 million and profits of $27,984 million in 2023, reflecting a strong profit margin of 33.9% relative to its revenues [37].
  • Market Valuation: With a market value of $370,216 million in 2023, Tencent's financial metrics underscore its significant presence in the global market [37].

Operational Insights

  • Employee Strength: Tencent employs 108,436 individuals, supporting its extensive operations and innovative projects across various sectors [37].
  • Brand Value: Despite a slight decrease from 2022, Tencent's brand was valued at 36 billion U.S. dollars in 2023, ranking it as the seventh most valuable media brand worldwide [38].
  • Key Financial Ratios: The company's financial efficiency is highlighted by its profits as a percentage of assets at 12.2% and stockholder equity at 26.8% [37].

Strategic Initiatives and Market Influence

  • Diverse Offerings: Tencent operates popular platforms like Tencent QQ and WeChat, and owns significant stakes in the music streaming sector through Tencent Music [40].
  • Gaming Dominance: As the world's largest video game vendor, Tencent has made substantial investments in the gaming industry, bolstering its portfolio and market reach [40].
  • Controversies and Challenges: The company has navigated issues related to allegations of copying, security concerns, and censorship, which are common challenges in the tech industry [40].

Tencent's strategic positioning and operational achievements not only highlight its role as a leader in internet services and retailing but also reflect its adaptability and influence in the dynamic global tech landscape.

 

Berkshire Hathaway's: Investment Strategy and Portfolio Composition

Investment Portfolio Overview:

  • As of the end of 2023, Berkshire Hathaway's investment portfolio is substantial, comprising 41 companies with a total value of about $370 billion [10].
  • The portfolio is heavily weighted towards technology, energy, consumer staples, and financial sectors, aligning closely with the S&P 500 in these areas [10].

Key Holdings and Sector Allocation:

  • The technology sector stands out significantly, with Information Technology constituting about 51% of the portfolio. This is highlighted by Berkshire Hathaway's major stake in Apple, which is part of the top five holdings that account for over 80% of the total portfolio [10].
  • Other top investments include Bank of America, American Express, Coca-Cola, and Chevron, underscoring a diverse range of sectors from financials to consumer goods and energy [10].

Stock Transactions and Strategic Shifts:

  • During the fourth quarter of 2023, Berkshire Hathaway adjusted its holdings by reducing its stake in Apple and increasing investments in Chevron and Occidental Petroleum. This strategic shift emphasizes a stronger focus on the energy sector, where Berkshire now controls 27.8% of Occidental Petroleum's outstanding shares [10].
  • In a significant move, the company also divested its entire stakes in D.R. Horton, Markel Group, StoneCo, and Globe Life, indicating a realignment of its investment priorities [10].

Financial Health and Market Position:

  • Berkshire Hathaway's investment approach is characterized by a preference for stocks with a lower price-to-earnings valuation compared to the S&P 500, yet with higher profitability and lower debt levels [10].
  • Despite a projected long-term earnings-per-share growth rate that is lower than the S&P 500, Berkshire maintains a strong market position, ranking eighth among the top 10 biggest companies globally by market cap in 2024, valued at $883.7 billion [10].

These strategic investments and financial maneuvers not only reflect Berkshire Hathaway's robust market acumen but also its adaptability in navigating the dynamic economic landscape.

 

Visa Inc.: Fiscal Performance and Future Projections

Fiscal Year 2023 Overview:

  • Net Revenues and Income: Visa Inc. reported a total net revenue of $32,653 million for the fiscal year 2023, with a net income amounting to $17,273 million, demonstrating a robust financial performance [42].
  • Earnings Per Share: The diluted class A common stock earnings per share reached $8.28, reflecting strong profitability and shareholder value [42].
  • Operating Expenses: The operating expenses for the year were recorded at $11,653 million, indicating managed spending relative to revenue generation [42].

Quarterly Growth and Dividend Increase:

  • Fourth Quarter Revenue: In Q4 2023, Visa saw its net revenues rise to $8,601 million, marking an 11% increase compared to previous quarters [43].
  • Dividend Growth: The company's board of directors approved a 16% increase in the quarterly cash dividend, setting it at $0.520 per share, which signals confidence in the company's ongoing financial health and commitment to returning value to shareholders [43].
  • Volume Growth: In the last quarter of 2023, there was steady growth in both the volume of payments and the number of transactions processed. Particularly impressive was the strong growth in cross-border transactions during this period [43].

Projections for Q1 2024:

  • Revenue and Earnings Forecast: Visa is projected to see its earnings climb to $4.7 billion, or $2.31 per share, with revenue expected to increase by 8% to $8.5 billion [44].
  • Segment Growth Expectations: 
    • Data Processing Revenue: Anticipated to grow by 12% [44].
    • Service Revenue: Expected to rise by 11% [44].
    • International Transaction Revenue: Forecasted to increase by 9% [44].

  • Volume and Transaction Projections:

    • Payment Volume: Predicted to grow by 10% to $3.3 trillion [44].
    • Transactions: Estimated to reach 57.6 billion, an increase of 5.1 billion from the previous year [44].

Visa's continued financial success and strategic forecasts indicate a strong position in the global payments industry, underpinned by steady growth in key financial metrics and a proactive approach to expanding its market presence.

 

Johnson & Johnson: A Detailed Financial and Operational Analysis

2023 Financial Performance

  • Total Revenue: Johnson & Johnson reported a robust total revenue of $85.2 billion in 2023, marking a consistent financial trajectory [46].
  • Net Earnings: The net earnings stood impressively at $35.1 billion, reflecting strong profitability [46].
  • Research and Development Investment: The company dedicated 17.7% of its sales to research and development, emphasizing its commitment to innovation [46].

Segment Performance

  • Medtech Segment: This segment alone generated $30.4 billion in revenue, showcasing significant growth and contribution to the overall financial health of the company [46].
  • Vision Care and Oral Care Franchises: Vision care sales reached $5.07 billion, while oral care franchise sales were reported at $1.51 billion in the previous year, indicating strong market performance in specialized health sectors [46].

Geographical Revenue Insights

  • U.S. Sales: Sales in the United States were the powerhouse of revenue, accumulating over $46 billion [47].
  • European Market: Europe followed as a strong contributor with sales amounting to approximately $20.4 billion [47].

Quarterly Growth Analysis

  • Q4 2023 Revenue and Growth: The fourth quarter showed a revenue of $21.4 billion with a 7.3% increase from the previous year. Operational growth was noted at 7.2%, with an adjusted operational growth of 5.7% [48].
  • Earnings Per Share (EPS): Q4 2023 saw an EPS of $1.70, a significant 39.3% increase compared to Q4 2022. The adjusted EPS was even higher at $2.29, marking an 11.7% increase [48].

2024 Projections

  • Revenue Forecast: Johnson & Johnson has set an ambitious revenue target ranging from $87.8 billion to $88.6 billion for the full year [49].
  • EPS Outlook: The forecasted adjusted EPS is expected to lie between $10.55 and $10.75, indicating optimism in continued financial growth [49].

Innovations and Market Dynamics

  • Pharmaceutical and Medtech Surge: The pharmaceutical sales increased by 4.2% reaching $13.72 billion, while medical devices sales surged by 13.3% to $7.67 billion, driven by robust market demand and innovation [49].
  • Future Sales Growth: Johnson & Johnson anticipates a "relatively consistent" operational sales growth in the medical devices business throughout 2024, ensuring a steady market presence [49].

These financial metrics and projections not only highlight Johnson & Johnson's solid market stance but also its strategic focus on growth and innovation across its diverse health segments.

 

Walmart

Walmart, recognized as the largest company by revenue globally, surpasses even tech giants like Apple in this metric [4]. As a pivotal player in the international market, Walmart's operations extend across 19 countries, showcasing its expansive reach and influence [4].

International Operations and Strategy:

  • Geographical Presence: Walmart International operates in 19 countries, tailoring its strategies to be locally relevant and customer-focused in each market [4].
  • Net Sales: For fiscal 2023, Walmart International reported net sales of $101.0 billion, accounting for 17% of Walmart's consolidated net sales, indicating its critical role in the company's overall financial structure [4].
  • Business Formats: The segment's operations are categorized into retail and wholesale, providing a diverse range of services and products [4].

Omni-channel Integration and Strategic Divestitures:

  • Omni-channel Experience: Walmart International merges traditional retail stores with eCommerce, enhancing customer accessibility through over 2,900 pickup and approximately 2,500 delivery locations as of January 31, 2023 [4].
  • Recent Divestitures: Strategic actions include the divestiture of operations such as Walmart Argentina, Asda in the UK, Seiyu in Japan, and certain markets in Africa, reflecting a focus on optimizing its global footprint [4].

Ownership Enhancements and Digital Expansion:

  • Increased Ownership in Digital Platforms: Walmart has upped its stake in PhonePe, a leading digital transaction platform in India, signifying a push towards enhancing its digital transaction capabilities [4].
  • Strategic Focus: The overarching strategy for Walmart International involves making everyday activities easier for families, increasing digital integration, and leveraging trust as a competitive advantage [4].

These strategic elements not only underline Walmart's robust international presence but also highlight its adaptability and forward-thinking approach in the dynamic global retail market.

 

Conclusion

Throughout this exploration, we've delved into the operations, financial health, and strategic maneuvers of the world's leading companies, spanning varied sectors from technology to retail and healthcare. These giants, including Microsoft, Apple, Amazon, Google (Alphabet), Facebook (Meta Platforms), Tencent, Berkshire Hathaway, Visa, Johnson & Johnson, and Walmart, have not only emerged as behemoths in their respective fields but have also set the pace for innovation, market expansion, and sustainability in the global business landscape. Their achievements underscore the dynamic intersections of technology, consumer demand, and strategic foresight, illuminating pathways to resilience and growth in a competitive environment.

The significance of their contributions extends beyond mere financial metrics, influencing the future direction of global commerce, technology, healthcare, and consumer experiences. As these companies continue to navigate challenges and seize opportunities, their actions will likely shape economic trends, technological advancements, and market dynamics, resonating with businesses and consumers alike. This examination offers a comprehensive snapshot of their current standing, while also projecting a gaze towards the future implications of their endeavors. Ultimately, the narrative woven by these global giants serves as a testament to the transformative power of innovation and strategic vision in the ever-evolving tapestry of global commerce.

 

FAQs

1. Which company holds the title of the largest in the world?

Apple Inc. is currently the largest company globally when measured by market capitalization.


2. Can you name the top three most influential companies worldwide?

The three most powerful companies globally, based on market capitalization, are Microsoft, Apple, and Saudi Aramco, each with a market cap exceeding $2 trillion.


3. Who are the leaders in global market share among companies?

Microsoft, Apple, and Saudi Aramco are the leading companies worldwide by market share, with each having a market capitalization of over $2 trillion.


4. What are the biggest international businesses by market capitalization?

The largest companies globally by market cap are:

  • Apple: $2.95 trillion
  • Microsoft: $2.52 trillion
  • Saudi Aramco: $2.09 trillion
  • Alphabet: $1.59 trillion
  • Amazon: $1.33 trillion
  • NVIDIA: $1.06 trillion
  • Tesla: $813.2 billion
  • Meta Platforms: $739.9 billion

 

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[50] - https://www.pharmaceutical-technology.com/news/johnson-q2-2023-sales/
[51] - https://www.forbes.com/sites/bernardmarr/2022/10/03/the-5-biggest-business-trends-for-2023/
[52] - https://www.uschamber.com/international/top-6-global-business-trends-to-watch-in-2023
[53] - https://explodingtopics.com/blog/business-trend

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