BERLIN, Dec. 30 (Xinhua) — The market value of the world’s 100 most valuable listed companies rose 29 percent to a new record of $36.5 trillion over the course of 2023, according to an analysis by the auditor published on Friday – and consulting company EY Germany.
According to EY, the “record hunt” on the stock markets was driven by the technology sector. The market capitalization of the hundred most valuable technology companies currently has increased by 60 percent within a year. No other sector recorded anywhere near as much growth in value.
“This year, the topic of artificial intelligence in particular has captured the imagination of investors and thus the stock market prices,” said Henrik Ahlers, CEO of EY Germany. “Companies operating in this area have become investor favorites,” Ahlers continued.
According to EY, nine of the ten most valuable companies in the world are headquartered in the USA. The US technology giant Apple will remain the most valuable company in the world at the end of 2023, with a market capitalization of around three trillion US dollars.
Saudi Arabian oil and gas company Saudi Aramco fell one place to take third place behind multinational technology group Microsoft. Saudi Aramco was the only company in the top 10 in EY’s ranking that is headquartered outside the United States.
According to the analysis, the boom in the technology sector cemented the USA’s dominance on the global stock markets. The number of US companies among the hundred most valuable companies increased to 62, one more company than in 2022.
With nine companies in the top 100, China again took second place. The most valuable European company at the end of the year was the Danish pharmaceutical company Novo Nordisk in 16th place.
According to the EY analysis, two German companies have made it back into the top 100 after not being represented last year. The software company SAP took 61st place and the technology company Siemens climbed from 115th place to 88th place.
However, the current boom in the field of artificial intelligence (AI) is an opportunity for Europe and Germany to regain lost ground. “Especially for a location like Germany, AI can bring positive growth impulses given the shortage of skilled workers and demographic change,” says Ahlers.
(according to Xinhua News Agency)
2023-12-31 02:32:58
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