Apple passes Samsung as the biggest smartphone maker

Apple surpassed Samsung to become the world’s largest smartphone maker in the past ten years.

City Index reveals the world’s biggest companies today by market cap, and how the landscape of corporate giants has changed in the last 20 years.

As technology continues to dominate the stock market it’s no surprise that in 2023, tech took a front-row seat on the market with seven tech companies including Apple, Amazon, and Tesla occupying the top 10.

Highlights from the research indicate that:

• Apple was the world’s biggest company in 2023 – worth $3.03 trillion, followed by Microsoft ($2.51 trillion)
• Microsoft was the world’s biggest company in 2000, worth $586 billion (equating to $1.03 trillion in 2023)
• IBM was the biggest company in 1980, with a market cap of $34.6 billion (equating to $128.12 billion in 2023)

The Oil and Gas sector dominated the market throughout the 1980s, however, from 2000 onwards, the tech industry produced the most valuable companies.

Apple founded in 1976 has grown to a market cap of $3.03 trillion. Founded in 1976 only to go public in 1980, Apple became the world’s most bankable company when its value grew to $350 billion to replace ExxonMobil which was at the top ranking for the most part between the 2010 and 2018 period.

Microsoft was the second biggest tech company in 2023, thanks to Azure cloud computing services and its stake in OpenAI.

The products that saw Microsoft dominate in 2000 which include Windows and Office are still relevant in terms of its revenue. This has contributed to its consistent upward growth.

Also read: Samsung launches S24 series, price, specs, and more, SamsungUnpacked