The total market value of the 10 most valuable companies in the world increased by 16.69 percent or 4.183 trillion dollars, reaching 29.24 trillion dollars since the start of the war in Iran at the end of February, reports Anadolu.

The market values ​​of the world’s leading companies fluctuated before the joint attacks of the US and Israel against Iran on February 28. By the end of March, the total market capitalization of the top 10 companies fell by 4.3 percent or $1.077 trillion during the one-month period compared to the market close before the tensions, falling to $23.98 trillion.

Recommendations by major investment banks to buy and expectations on investments in artificial intelligence (AI) drove the market value of these companies, especially amid the tensions geopolitical tensions that were said to be easing, bringing the total market value of the top 10 companies to $27.862 trillion by the end of April, marking a monthly increase of 16.19 percent or $3.882 trillion.

The value of these companies increased by 4.94 percent or $1.3775 trillion at the last market close on May 8 compared to the end of April, bringing the total to $29.24 trillion.

Chipmaker Nvidia set a new record in April with $5.229 trillion in market capitalization, surpassing the $5 trillion mark after a loss of $67.797 billion in March.

Nvidia was unable to maintain this level after the month-end earnings, but more he later recovered and crossed the threshold again. Alphabet, which closely follows Nvidia, reached a market value of $4.834 trillion, followed by Apple with $4.309 trillion. The market values of the two companies exceeded the $4 trillion mark.

Microsoft ranked fourth among the top 10 companies with a market value of $3.084 trillion, followed by Amazon with $2.933 trillion, Broadcom with $2.036 trillion, TSMC with $1.89 trillion, Saudi Aramco with $1.769 trillion, Tesla with $1.609 trillion and Meta at $1.5475 trillion.

Saudi Aramco’s market value increased by $158 billion while Tesla’s increased by $98.373 billion over the same period. Meta was the only company to lose value, losing $92.62763 billion.

Based on percentage growth since the war, Broadcom led the way with an increase of 34.38 percent, followed by Amazon with 30.12 percent and Alphabet with 28.24 percent.

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Source: prizrenpost