Apple ranked as the world’s most valuable company by market capitalization at the end of 2023.
At the close of 2023, Apple’s market capitalization was approximately US$3 trillion, placing it ahead of Microsoft and other publicly traded companies. Its position reflected the value investors assigned to the iPhone ecosystem, services revenue, Macs, iPads, wearables, and the company’s strong brand and installed customer base.
End-of-year rankings use closing share prices on the final trading day, so they differ from intraday records and rankings measured at other dates. Microsoft briefly overtook Apple during 2024, while Nvidia’s artificial-intelligence-driven rally also changed the order among the three largest companies. Market-cap rankings can therefore shift even when a company’s underlying operations change more gradually.