Technology companies have emerged as a major force behind consumer preferences, financial markets, and economic progress in recent years throughout the past few decades. Tech companies’ goods and services are now considered essential, affecting not only our daily lives but also our employment and education.
Over the last ten years, the largest tech stocks collectively have outperformed the overall market by a significant margin. This is due to the fact that technology has altered the ways in which people interact, communicate, shop, socialize, and work.
In general, businesses in the technology sector work on products and services that are based on technology through research, development, and manufacturing. They develop, design, and produce household appliances, mobile devices, and PCs in addition to offering information technology-related goods and services.
Below we look at the 3 biggest tech companies in the world in 2024 as measured by their 12-months revenue.
This is a list of largest technology companies by revenue, according to the Fortune Global 500. It shows companies identified by Fortune as being in the technology sector, ranked by total annual revenue.
1. Apple:
In addition to being the most valuable IT firm in the world, Apple has also been outperforming the S&P 500 and its contemporaries in the industry in the current years. I bet there’s no need for a glamorous introduction for Apple. Apple, which reported a staggering $99.8 billion in net profits in 2022, is among the most lucrative firms in the world. With almost 47% of its entire public investment portfolio, Apple is by far Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B) position.
Apple (AAPL) is a company that develops, produces, and sells a wide variety of consumer technology goods. Smartphones, laptops, tablets, wearable technology, home theater systems, and many more in demand products. Mac computers and the iPhone are among its best-selling items. Apple has dramatically expanded its sales into other services. It operates digital content stores and recently launched several streaming services, including Apple+, a platform for on-demand entertainment content.
- Market capitalization: $2.7 trillion
- Revenue (TTM): $394.33 billion
- Net Income (TTM): $99.8 billion
- Industry: hardware, software, electronics, information technology
- Employees: 154,000 people.
2. Microsoft Corporation:
Microsoft is the second-largest tech company, due to its market capitalization of more than $2 trillion. It is also one of the most expensive companies and brands worldwide.
It was founded in 1975 by Bill Gates and Paul Allen. Since that time, the company has diversified its services and expanded its markets. Today, Microsoft offers operating systems for computers, servers, phones, intelligent gadgets, as well as productivity applications, business solution apps, management and development tools, games, and many more.
Additionally, Microsoft’s area of focus has recently moved somewhat. In an effort to lead the industry, the corporation is now concentrating on cutting-edge technologies including cloud computing, artificial intelligence, and machine learning.
The most well-known product offered by the corporation is Microsoft Office (MS Office). With its templates for assignments, projects, resumes, meetings, spreadsheets, and family gatherings, Microsoft Office has grown to be an essential part of our life.
- Market capitalization: $2.5 trillion
- Revenue (TTM): $203.08 billion
- Net Income (TTM): $69.80 billion
- Total number of employees: 221,000
3. Alphabet Inc(Google):
Google is known for being the best internet search engine, controlling over 90% of the world’s search engine traffic. But its main business is really advertising.
In October 2015, Alphabet became Google’s parent company. With a portfolio that includes search engines, advertising, cloud computing, and big-picture projects, Google has a lot going for it. It continues to take the lead in supplying cutting-edge technology like quantum computing and artificial intelligence. Today, more than thirty popular services and sub-companies are part of the Alphabet Holding.
In addition to its main business, this tech behemoth invests in numerous start-ups and tech startups. It supports a wide range of initiatives, from operating systems for cloud gaming to self-driving cars and smart homes. Furthermore, Alphabet provides certificates in the technology sector to educate users on its range of products.
- Market capitalization $1.202 trillion
- Industry: research and development, software, video games, biotechnology, etc.
- Annual revenue: $281 bln.
- Employees: 156,500 people.
