US Stock Market Cap Leaders vs Global Markets, August 2024

Key figures from the chart

The ten largest U.S. stocks were worth a combined $18.10 trillion in August 2024, by our sum of the values on the chart.
That is more than the whole stock market of the European Union (about $11.3 trillion) or China (about $11.1 trillion), as read from the bar lengths.
Apple, at $3.48 trillion, is drawn about level with the entire UK stock market. Microsoft ($3.10 trillion) and NVIDIA ($2.93 trillion) are each larger than the markets of Taiwan, Germany and Switzerland.
The smallest of the ten, Tesla at $0.68 trillion, is still larger than the stock markets of Singapore and Mexico.
The chart’s footer cites WFE, S&P Global and Yahoo Finance.

US stock market cap leaders in text

The inset box on the chart gives these values for the top 10 U.S. stocks:

Rank in the inset	Company	Market cap, trillion US$ (August 2024)
1	Apple	3.48
2	Microsoft	3.10
3	NVIDIA	2.93
4	Alphabet (Google)	2.02
5	Amazon	1.87
6	Meta (Facebook)	1.32
7	Berkshire Hathaway	1.03
8	Eli Lilly	0.91
9	Broadcom	0.76
10	Tesla	0.68
	Total (our sum)	18.10

The main chart has 31 bars. Company values are printed in the inset. Country and region bars carry no printed values, so the figures marked “about” are our own reading of the bar lengths against the scale, and are approximate.

Bar, top to bottom	Colour	Trillion US$
Top 10 U.S. stocks combined	red	18.10 (sum of the inset)
European Union	blue	about 11.3
China	blue	about 11.1
Japan	blue	about 6.7
India	blue	about 5.5
Hong Kong	blue	about 4.0
Apple	red	3.48
United Kingdom	blue	about 3.5
Canada	blue	about 3.2
France	blue	about 3.1
Microsoft	red	3.10
NVIDIA	red	2.93
Taiwan	blue	about 2.3
Germany	blue	about 2.3
Switzerland	blue	about 2.2
Alphabet (Google)	red	2.02
South Korea	blue	about 1.9
Amazon	red	1.87
Australia	blue	about 1.8
Meta (Facebook)	red	1.32
Netherlands	blue	about 1.1
Sweden	blue	about 1.05
Berkshire Hathaway	red	1.03
Italy	blue	about 0.9
Eli Lilly	red	0.91
Brazil	blue	about 0.8
Spain	blue	about 0.8
Broadcom	red	0.76
Tesla	red	0.68
Singapore	blue	about 0.6
Mexico	blue	about 0.5

How market cap is measured

Market capitalisation is the total value of a listed company’s outstanding shares. It equals the share price multiplied by the number of shares outstanding [2]. Wikipedia’s example: a company with 4 million shares at $20 has a market cap of $80 million, and if the price rises to $21 it becomes $84 million [2]. Because the price changes every trading day, any market cap chart is a snapshot of one date. This one is August 2024.

For countries, the chart uses the total value of each stock market rather than one company. Adding up ten companies and setting them against whole national markets is what makes the comparison stand out.

The same chart a few months earlier

Econovis published a version of this series for June 2024. It put the top 10 U.S. stocks at $18.2 trillion, 8.2 times their 2010 value, and 16% of global market capitalisation [1]. In that edition Microsoft was first with 2.92% of global market cap and Apple second with 2.86% [1]. By August 2024, on this chart, Apple had moved back above Microsoft.

The July 2024 version of the chart

This Econovis chart compares the 10 largest US companies with whole global stock markets in July 2024. Together the 10 were worth $17.9 trillion, more than the stock market of the European Union, China or Japan. Apple, at $3.41 trillion, is drawn as larger than the markets of France and Canada. Every figure is written out below.

Econovis bar chart U.S. Top Ten Stocks vs. Global Stock Markets, market capitalisation in trillion US dollars in July 2024, with the combined top 10 US stocks ahead of the European Union, China and Japan and Apple ahead of France and Canada — Infographic by Ehsan Soltani, Econovis.

The 10 largest US companies were worth a combined $17.9 trillion in July 2024, by our sum of the chart’s figures.
On the chart that total is larger than the whole stock market of any single country or region shown, including the European Union, China and Japan.
Apple alone, at $3.41 trillion, is drawn as larger than the stock markets of France and Canada.
Microsoft ($3.11 trillion) and NVIDIA ($2.88 trillion) are each drawn as larger than the markets of Taiwan and Germany.
Company values are from the chart, which cites WFE, S&P Global and Yahoo Finance.

Notes on this infographic

Flags. The Canada and France rows have their flags swapped. The Canada row shows the French tricolour and the France row shows the maple leaf.
Date. All values are for August 2024 and will not match today’s market caps.
Country values. Only company values are printed. Country figures on this page are estimates from bar length.
Total. The chart does not print the combined figure. $18.10 trillion is our sum of the ten inset values.

Questions about market cap

What is market cap?

The market price of one share multiplied by the number of shares outstanding. It is the total value the stock market puts on a company at that moment [2].

Who has the highest market cap?

On this chart, for August 2024, Apple at $3.48 trillion, ahead of Microsoft at $3.10 trillion. The order changes with share prices. In June 2024 Econovis had Microsoft first [1].

Are the top 10 US stocks worth more than the EU stock market?

Yes. In August 2024 the ten largest US stocks were worth a combined $18.10 trillion, more than the whole stock market of the European Union, about $11.3 trillion, or China, about $11.1 trillion. The $18.10 trillion is a sum of the chart's ten company values, and the EU and China figures are read from bar lengths, so they are approximate.

Is Apple worth more than the UK stock market?

About the same. In August 2024 Apple's market cap was $3.48 trillion, drawn about level with the entire UK stock market, which reads at about $3.5 trillion from its bar. Country values are not printed on the chart, so the UK figure is an estimate. In the July 2024 version of the chart, Apple at $3.41 trillion was drawn as larger than the markets of France and Canada.