KEYTAKEAWAYS
- Market cap, calculated as price × supply, is a crucial metric for assessing asset value across various sectors, from stocks to cryptocurrencies and commodities.
- The top 15 assets by market cap showcase a diverse economic landscape, led by gold ($18.019T), followed by tech giants like Apple ($3.459T) and Microsoft ($3.205T), and including Bitcoin ($1.302T) at 10th place.
- While market cap indicates size and stability, it doesn't guarantee future performance; the rankings reflect current market dynamics and shifting investor sentiments.
CONTENT
Our comprehensive list ranks 15 top assets by market cap, from gold to tech giants and offering key insights for curious investors and market watchers.
WHAT ARE THE TOP ASSETS BY MARKET CAP?
| Rank | Asset Name (Ticker) | Market Cap | Price |
|---|---|---|---|
| 1 | Gold (GOLD) | $18.002 T | $2,681.00 |
| 2 | Apple (AAPL) | $3.463 T | $227.79 |
| 3 | Microsoft (MSFT) | $3.205 T | $428.02 |
| 4 | NVIDIA (NVDA) | $2.977 T | $121.40 |
| 5 | Alphabet (GOOG) | $2.009 T | $165.29 |
| 6 | Amazon (AMZN) | $1.972 T | $187.97 |
| 7 | Silver (SILVER) | $1.796 T | $31.92 |
| 8 | Saudi Aramco (2222.SR) | $1.779 T | $7.36 |
| 9 | Meta Platforms (META) | $1.435 T | $567.36 |
| 10 | Bitcoin (BTC) | $1.301 T | $65,856.00 |
| 11 | Berkshire Hathaway (BRK-B) | $979.92 B | $457.47 |
| 12 | TSMC (TSM) | $922.96 B | $177.97 |
| 13 | Tesla (TSLA) | $832.07 B | $260.46 |
| 14 | Broadcom (AVGO) | $831.97 B | $172.69 |
| 15 | Eli Lilly (LLY) | $790.38 B | $877.79 |
Data sourced from CompaniesMarketCap.com as of September 28, 2024.
WHAT IS MARKET CAP?
Market capitalization, or market cap as we usually call it, is a key metric used to assess the total value of an asset in the financial world. While we generally associate the term with publicly traded companies, the concept has expanded to encompass various assets, including crypto and precious metals.
Market cap represents the current market value of an asset based on the collective assessment of buyers and sellers. It reflects the price that the market is willing to pay for the entire available supply of that asset at a given moment.
For companies, market cap indicates the total value of all outstanding shares. In crypto, it represents the worth of all coins or tokens in circulation. For metals like gold, it reflects the estimated value of the total known supply.
Why is It Important?
Market cap serves as an indicator across various asset classes, offering insights into an asset’s relative size, stability, and market perception. For both traditional companies and cryptocurrencies, market cap often reflects growth expectations and potential investment risks.
Larger market caps typically suggest more stability, while smaller caps often indicate higher growth potential with increased volatility.
It’s important to note that market cap fluctuates constantly based on:
- Market conditions
- Investor sentiment
- Various other factors
While top assets by market cap often suggest stability and market dominance, it doesn’t necessarily indicate whether an asset is overvalued or undervalued, nor does it guarantee future performance.
How is Market Cap Calculated?
It is calculated using a straightforward formula that applies across various asset types:
Market Cap = Current Price × Total Supply
For publicly traded companies, this means:
- Current stock price × Number of outstanding shares
For crypto, it’s:
- Current token price × Circulating supply
For precious metals like gold, the calculation uses:
- Current spot price × Estimated total above-ground supply
For example, if a company has 1 million outstanding shares trading at $50 each, its market cap would be $50 million. Similarly, if a cryptocurrency has 10 million coins in circulation at $100 per coin, its market cap would be $1 billion.
However, it’s important to note that market cap is a dynamic measure. It fluctuates constantly with price changes and, in some cases, changes in supply. For accurate valuation of top assets by market cap, one should regularly monitor these figures.
TOP 15 ASSETS BY MARKET CAP RANKED
Top Assets by Market Cap No.1 | Gold
Shining bright at our top assets by market cap list is: gold, boasting an impressive market cap of $18.019 trillion. This glittering metal isn’t just for jewelry – it’s a financial heavyweight that investors flock to when markets get rocky.
Gold’s appeal lies in its ability to hold its own against inflation and market jitters. Unlike paper money that central banks can print at will, we can’t just whip up more gold on demand. In fact, mining only adds a modest 2% to the supply each year, keeping gold’s value nice and stable.
This scarcity, combined with its knack for zigging when other assets zag, makes gold a popular choice for diversifying investment portfolios. It’s no wonder this timeless treasure continues to reign supreme in the world of market capitalization.
Top Assets by Market Cap No.2 | Apple
Taking a bite out of the second spot is tech giant Apple, with a juicy market cap of $3.459 trillion. This isn’t just about sleek gadgets – Apple has turned its popular products like the iPhone, MacBook, and AirPods into a recipe for financial success.
The company’s secret sauce? A blend of high-quality products and customer loyalty. It’s also branching out into services like Apple TV+ and diving into the world of artificial intelligence with Apple Intelligence.
With new M4 Macs and iPads on the horizon, and the recent launch of the iPhone 16 and Apple Watch Series 10, the tech titan shows no signs of slowing down. Despite some recent revenue fluctuations, Apple’s diverse product lineup and innovative spirit keep it firmly planted near the top of the market cap tree.
Top Assets by Market Cap No.3 | Microsoft
Tech powerhouse Microsoft secures the third spot of top assets by market cap, with a market cap of $3.205 trillion. Beyond its Windows and Office mainstays, Microsoft has become a cloud computing leader with Azure, commanding a 31% market share.
The company’s strategic moves include significant investments in AI, notably its partnership with OpenAI. Microsoft’s financial performance remains strong, with Q4 2024 revenue hitting $64.7 billion, a 15% year-over-year increase.
A new $60 billion share buyback program and increased dividends further underscore its financial health. With its diverse portfolio spanning software, cloud services, and AI innovations, Microsoft continues to solidify its position as a tech industry titan.
Top Assets by Market Cap No.4 | NVIDIA
Powering up in fourth place is NVIDIA, with a robust market cap of $2.977 trillion. Once known primarily for gaming graphics, NVIDIA has transformed into an AI powerhouse. Its GPUs are now the go-to choice for training and operating AI applications, putting NVIDIA at the forefront of the AI boom.
The company’s stellar performance in 2024 included a record-breaking $277 billion market cap increase in a single day. NVIDIA’s latest Blackwell GPU architecture promises significant performance leaps, with the GB200 system performing AI tasks 30 times faster than its predecessor.
With tech giants like Microsoft, Amazon, and Meta Platforms clamoring for more chips, NVIDIA’s growth trajectory remains strong.
Top Assets by Market Cap No.5 | Alphabet
Searching its way to the fifth spot is Alphabet, Google’s parent company, with a market cap of $2.027 trillion. This tech titan is more than just a search engine – it’s a digital ecosystem encompassing Gmail, YouTube, Maps, and Pixel smartphones.
Alphabet’s financial outlook for 2024 is optimistic, driven by strong performance in advertising and cloud services. The company is betting big on AI integration to enhance user experience and operational efficiency.
However, it’s not all smooth sailing – Alphabet faces antitrust challenges, with a recent ruling finding Google’s search practices monopolistic. Despite these hurdles, the company continues to innovate, particularly in cloud computing and YouTube Shorts, as it competes with tech giants like Amazon and Microsoft.
Top Assets by Market Cap No.6 | Amazon
Amazon secures the sixth position with a market cap of $1.972 trillion. From its humble beginnings as an online bookstore, Amazon has evolved into “the Everything Store,” revolutionizing e-commerce and beyond.
With nearly $575 billion in global net sales for 2023, Amazon dominates online retail, cloud computing, and streaming services. Prime boasts over 200 million users worldwide, while Amazon Web Services leads the cloud market.
The company’s innovative streak continues with ventures into AI, drone delivery, and predictive logistics. Despite facing an antitrust lawsuit from the FTC, Amazon’s diverse portfolio—spanning from Whole Foods to Twitch—keeps it at the forefront of technological advancements.
Top Assets by Market Cap No.7 | Silver
Shining bright in seventh place is silver, boasting a market cap of $1.796 trillion. Like gold, this versatile precious metal isn’t just for jewelry but also valuable to industries ranging from electronics to solar panels.
Silver’s price has been on a rollercoaster ride, hitting nearly $30 per ounce in 2020 and maintaining a strong position above $20 since then. While some optimistic analysts predict silver could reach $100 per ounce, more conservative outlooks consider factors like interest rates and economic slowdowns.
Silver’s value is influenced by a unique mix of industrial demand, monetary policies, and its status as a safe-haven asset. With global production reaching over 25,800 tons in 2023, led by Mexico, China, and Peru, silver captivates investors and industries alike.
Top Assets by Market Cap No.8 | Saudi Aramco
Pumping its way to eighth place is Saudi Aramco, with a market cap of $1.779 trillion. This energy behemoth is the world’s largest oil producer, responsible for nearly 1 in 11 barrels of oil used globally.
Owned largely by the Saudi Arabian government, Aramco boasts the largest daily oil production and the second-largest proven crude oil reserves among all oil companies. Despite recent fluctuations in oil demand, Aramco posts a net income of $27.3 billion in Q1 2024 and expects total dividends of $124.3 billion for the year.
To diversify beyond black gold, the company invested $500 million in liquefied natural gas (LNG) in 2023, and with capital investments projected between $48-58 billion for 2024, Aramco wields significant global influence.
Top Assets by Market Cap No.9 | Meta Platforms
Meta Platforms secures the ninth spot with a market cap of $1.435 trillion. The company behind Facebook, Instagram, and WhatsApp rebranded in 2021, setting its sights on building the metaverse.
While social networks remain Meta’s bread and butter, generating over 96% of revenue from advertising, the tech giant has expanded into virtual reality with Meta Quest 2 and Oculus acquisition in 2014. Recent data shows impressive growth in advertising demand, with cost per thousand impressions (CPMs) rising 40% year-over-year.
Additionally, the company’s Meta Connect 2024 event showcased its ambitious plans, unveiling the Orion augmented reality glasses, a cheaper Quest 3S VR headset, and a new Llama model with image processing capabilities.
Top Assets by Market Cap No.10 | Bitcoin
Bitcoin snags the tenth spot with a $1.302 trillion market cap. From its 2009 debut at mere cents, this digital currency skyrocketed to $72,000 in 2024.
U.S. Bitcoin ETF approvals and the fourth halving event fueled this surge, propelling Bitcoin past silver, Meta Platforms, and Berkshire Hathaway in past top assets by market cap rankings. With a fixed supply of 21 million coins, Bitcoin’s scarcity drives its value, while its divisibility into satoshis enhances its practical use.
Major companies and investment funds now include Bitcoin in their portfolios, reflecting its growing mainstream acceptance. Despite facing volatility and regulatory hurdles, Bitcoin’s trillion-dollar valuation marks a huge milestone in the financial world.
Top Assets by Market Cap No.11 | Berkshire Hathaway
Berkshire Hathaway secures the eleventh spot with a $979.92 billion market cap. Under Warren Buffett’s leadership since 1965, this former textile company transformed into a diverse holding giant.
Berkshire owns household names like GEICO, Duracell, and Dairy Queen, while holding significant stakes in American Express, Coca-Cola, and Apple. The company’s recent moves include trimming its Apple stake and exiting Paramount Global.
Greg Abel, named as Buffett’s successor, will soon guide Berkshire’s evolving investment strategy, and with a record cash pile of $276.9 billion, Berkshire remains poised for strategic acquisitions.
Top Assets by Market Cap No.12 | TSMC
Taiwan Semiconductor Manufacturing Company (TSMC) claims the twelfth spot with a $922.96 billion market cap. As the world’s largest contract chip manufacturer, TSMC is at the forefront of the AI revolution, supplying semiconductors to tech giants like Apple and Nvidia.
The company’s recent performance reflects the booming AI market, with high-performance computing now comprising over half of its revenue. TSMC has raised its 2024 growth projections, anticipating sales to exceed previous mid-20% estimates.
Even in the face of geopolitical tensions, the chipmaker remains optimistic about AI spending and forecasts tight supply through 2025.
Top Assets by Market Cap No.13 | Tesla
Tesla, the electric vehicle pioneer, known for its Model Y’s global sales dominance holds the thirteenth position, boasting an $832.07 billion market cap.
Its recent patent filings hint at groundbreaking innovations: a wireless charging mat for drive-over powering, potentially gearing up for Robotaxi services, and an unboxed car-making process that could revolutionize manufacturing.
The company’s forward-thinking extends to safety, with an upcoming software update supporting smart child seats. These moves showcase Tesla’s commitment to pushing technological boundaries beyond just car production.
However, 2024 has thrown curveballs, with the company facing potential sales declines after years of stellar growth and facing headwinds in China, Europe and the U.S. All eyes are on Elon Musk as he balances ambitious innovation with market realities.
Top Assets by Market Cap No.14 | Broadcom
Broadcom claims the fourteenth spot with an $831.97 billion market cap. From its roots as HP’s semiconductor division, Broadcom has evolved into a major player in the AI and data center markets. The company’s acquisition of VMware marks its ambitious expansion into software, complementing its strong semiconductor business.
Broadcom’s growth is fueled by its AI semiconductor solutions, with the company expecting a significant portion of its revenue to come from AI-related products this fiscal year. The integration of VMware is boosting profit margins, showcasing Broadcom’s strategic diversification.
Top Assets by Market Cap No.15 | Eli Lilly
Eli Lilly rounds out our top assets by market cap ranking with a market cap of $790.38 billion. Founded by a Civil War veteran chemist, this pharmaceutical giant has become the world’s largest pharma company.
The company’s GLP-1 drugs, particularly tirzepatide (marketed as Mounjaro for diabetes and Zepbound for weight loss), are driving significant growth. These medications show promise beyond just weight management, potentially offering benefits for heart, liver, and kidney health.
Despite facing scrutiny over drug pricing, Eli Lilly’s strong performance and innovative pipeline underscore its growing influence in the pharmaceutical industry nonetheless.
THE BIG PICTURE OF MARKET CAP
Our ranking of the top assets by market cap showcases the diverse forces driving today’s economy. From gold’s enduring appeal to tech giants’ innovations and the rise of cryptocurrencies, these leaders shape global finance.
While these big names often seem like safer bets, smart investors know not to rely too heavily on any single asset. The tech sector’s dominance highlights digital innovation’s growing impact, but traditional industries still play crucial roles.
Market cap offers insights into an asset’s influence and potential, but it’s just one piece of the puzzle. As you make your way through the financial world, let this list be a starting point for your investment journey, not the entire roadmap.
Read more about our top crypto picks:
- Best Crypto Trading Course for Free in 2024
- 10 Best Technical Indicators for Crypto Trading in 2024
- 4 Best Crypto Trading Tools for Success in 2024
- 4 Best Low Market Cap Crypto to Consider if You’re Bored With Bitcoin
Learn about crypto basics:
- Margin Trading Crypto in 2024: What It is, How It Works & Top 5 Platforms
- What is Sector in Crypto? A Comprehensive Guide
- What Are Decentralized Apps (DApps)?
- Crypto Cold Wallet vs. Hot Wallet: What’s the Difference
Beginner’s guide to buying crypto:
- 14 Ways To Earn Passive Income With Crypto in 2024
- Bitget Futures Trading: A Comprehensive Beginner’s Guide
- Copy Trading Crypto Like a Pro on Bitget | Bitget Review 2024
- Bitget Copy Trading Explained: How It Works and Why You Might Need It
FAQS
- What’s the top asset by market cap?
Gold, with a market cap of $18.019 trillion.
- Which company has the highest market cap?
Apple, with a market cap of $3.459 trillion.
- How does Bitcoin rank in market cap?
Bitcoin ranks 10th with a market cap of $1.302 trillion.
- Why is market cap important?
It indicates an asset’s size, stability, and market perception, helping investors assess potential risks and growth.
- What is market capitalization?
The total value of an asset based on its current market price and total supply.
- Does a high market cap guarantee good investment?
No, it suggests stability but doesn’t indicate if an asset is overvalued or guarantee future performance.
