Investing.com – The battle between Apple (NASDAQ:) and Microsoft (NASDAQ:) for the title of the world’s highest market capitalization has been going on since early January, when the iPhone maker ceded the crown to the Bill Gates-founded company . only to regain it on June 12. A few days later, NVIDIA Corporation (NASDAQ:) entered the race and, with the help of artificial intelligence, managed to occupy the first place for market capitalization worldwide, albeit for a single session.
After all this confusion, order has been restored and as of June 21, the rankings are:
- Microsoft: $3.312 trillion
- Apple: $3.215 trillion
- Nvidia: $3.214 trillion
Despite the absolute difference of almost $100 billion between first and third, the difference at the exorbitant level of these three American tech giants is actually minimal, to the point that the rankings could change again from one session to the next.
Microsoft is one of the first to believe in AI
In addition to its historic and renewed offering of software and digital services, one of Microsoft’s strengths is that it was one of the first to believe in the potential of artificial intelligence, investing heavily in OpenAI, a company that has grown over the past six months turnover has more than doubled. Annual revenue rose from $1.6 billion at the end of 2023 to $3.4 billion.
Apple continues to update its highlights
Apple’s growth has been long and relentless over the years, with the stock always overcoming temporary corrections and continuing to reach new all-time highs. The Cupertino company that revolutionized the communications world with the iPhone has become much more than a smartphone manufacturer over the years and has successfully weathered the wave of artificial intelligence by seamlessly integrating it into its iOS operating system.
Nvidia, the queen of chips
Long gone are the days when Nvidia was considered just a gaming company. First-quarter 2024 sales are up 265% compared to the same period last year, and shares are up 170% over the past six months. In the semiconductor market, Nvidia is the absolute queen, and companies including Microsoft and Apple are competing for the essential chips for training the language models that underpin generative artificial intelligence.
The target prices of Microsoft, Apple and Nvidia
In short, all three companies have what it takes to stay where they are, but which of the three is preferable at the moment?
Here is the ranking based on the target price set by analysts:
Source: InvestingPro
Of the three analysts interviewed by InvestingPro, they show the most belief in Microsoft’s potential. The price target is set at $480 per share, 7.7% higher than the closing price of $419.7 on June 20.
In the case of Apple, analysts estimate a price target slightly lower, 1.5%, compared to the current value.
Finally, Nvidia could lose the most with a price target of $126.75, down 3.1% from its June 20 price. But it is known that the company led by CEO Jensen Huang is not new to surprising the markets and proving analysts wrong!
InvestingPro users can follow all updates about Nvidia, Microsoft and Apple in the dedicated section.
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Disclaimer: This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, consultation or recommendation for any investment, and as such is not intended in any way to encourage the purchase of any asset. Keep in mind that each type of asset is assessed from multiple points of view and is highly risky. Therefore, every investment decision and the associated risk remains with the investor.
