Apple held the largest market capitalization among public companies at the end of 2023.
At the end of 2023, Apple’s equity market value was approximately $3 trillion, placing it ahead of Microsoft and other large public companies. The ranking was based on the closing share price on the final trading day of the year and the company’s shares outstanding.
Apple’s position reflected the continuing scale of its iPhone ecosystem, services business, and global installed base of devices. Investors also watched its earnings, product launches, and capital-return program when valuing the company.
Market-cap rankings can change quickly because they depend on share prices. A company can lead at year-end and lose the position soon afterward, so a dated ranking is more precise than saying one company is permanently the world’s largest.