Tesla Drops Out of the Top 10 Most Valuable US Companies
March 6, 2024, marked a significant day for the global financial market: Tesla, the automotive giant, lost its place in the top 10 most valuable companies in the USA. This episode has attracted the attention of investors and experts, underscoring the importance of constant changes in the business landscape. The main reason for this shift is the decrease in demand for electric vehicles and stiff competition in the Chinese market, which is oversaturated with electric cars.
Following the trading session, Tesla’s stocks fell by 2.32%, reaching $176.54. This led to the company’s market capitalization dropping to $562.24 billion. On the other hand, Visa, a global leader in payment systems, managed to enter the top 10, thanks to the increase in the value of its shares by 0.38%, reaching $280.43 and a total market capitalization of $563.38 billion.
It’s interesting to note that Tesla had not left this prestigious list since January 20, 2023. However, its exit underscores the intense competition in the market and demonstrates that even the largest companies are not immune to changes in market dynamics.
Against the backdrop of Tesla’s exit from the top 10, companies such as Microsoft, Apple, and NVIDIA continue to maintain their leadership positions. This reflects the resilience of technological giants and their ability to adapt to changes in market demands.
Overall, the change in the composition of the top 10 most valuable companies in the USA indicates the dynamism and resilience of financial markets. For investors, this serves as a reminder of the importance of constantly monitoring market conditions and being flexible in decision-making.
Top 10 Most Valuable US Companies in March 2024
| Rank | Company | Market Capitalization |
|---|---|---|
| 1 | Microsoft (NASDAQ:MSFT) | $2.99 trillion |
| 2 | Apple (NASDAQ:AAPL) | $2.61 trillion |
| 3 | NVIDIA (NASDAQ:NVDA) | $2.22 trillion |
| 4 | Amazon (NASDAQ:AMZN) | $1.8 trillion |
| 5 | Alphabet (NASDAQ:GOOGL) | $1.64 trillion |
| 6 | Meta (NYSE:META) | $1.27 trillion |
| 7 | Berkshire Hathaway (NYSE:BRKb) | $870.99 billion |
| 8 | Eli Lilly | $740.91 billion |
| 9 | Broadcom | $625.62 billion |
| 10 | Visa (NYSE:V) | $563.38 billion |
In the latter half of the 20th century, companies primarily constituted the list of the world’s largest corporations, but with the advancement of technology and globalization of the economy, technological giants like Microsoft and Apple emerged, now occupying the top spots in this list.
Microsoft maintains its leadership position due to its diverse range of products and services, including software, cloud technologies, and gaming platforms. Apple, focusing on consumer electronics and services, also steadily holds the second position.
Among other companies on the list are giants like NVIDIA and Amazon. NVIDIA continues to grow due to its dominance in graphics processors and artificial intelligence, while Amazon, the largest internet retailer and cloud provider, also remains a strong player in the market.
However, it’s worth noting that the list also includes companies whose activities are not related to technology, such as Berkshire Hathaway, Eli Lilly, and Broadcom, indicating the diversity of sectors represented in the top 10.
Despite Tesla’s significant importance in the electric vehicle and alternative energy industry, its exit from the list signifies the intense competition in the market and underscores that only innovation and continuous development can ensure a sustainable position among the top companies.
