Apple, which was previously considered the most valuable company globally, has now lost some of its value and is no longer worth more than $3 trillion. Microsoft has surpassed Apple in terms of value and is now the company to beat in terms of market worth. Apple is now trying to catch up to Microsoft and regain its position as the most valuable company.

Biggest Companies in the World by Market Cap in 2024

1. Microsoft

2. Apple

3. Saudi Aramco

4. Alphabet

5. Amazon

6. NVIDIA

7. Meta

8. Berkshire Hathaway

9. Tesla

10. Eli Lilly

The Performance of Microsoft, Nvidia, and Apple in 2024

In 2024, Microsoft and Nvidia have been doing really well. Their stocks have been growing more than the average growth of other companies in the S&P 500, which is a group of big companies in the US. Microsoft’s stocks are up by 7%, while Nvidia’s stocks are up by over 10%. On the other hand, Apple’s stocks have not been growing much in the first month of the year.

Experts think that Nvidia and Microsoft will have a great start to the year, and this success will probably continue throughout 2024. They believe this because they think that people and businesses will be more interested in using AI products and services. However, when it comes to Apple, investors and analysts are waiting for Apple to tell them what their plans are for the rest of the year before making any decisions.

Factors Contributing to the Success of Microsoft and Nvidia

Microsoft has been successful in AI because they have invested in a leading AI company called OpenAI.

Nvidia has also grown a lot because of AI. Their special computer chips, called GPUs, are commonly used in AI research.

Apple, on the other hand, made a lot of money in 2023 from selling iPhones. But now, there is more competition from Huawei in China, and people are not as interested in Apple’s voice assistant called Siri. So, Apple’s growth might be limited in 2024.

If Apple falls behind other companies that focus more on AI like Alphabet, Amazon, Meta, Nvidia, and Tesla in the next few months, they might need another big success like the iPhone to become the top company again.

Rumors Surrounding Apple’s Secret AI Project

There are rumors that Apple is secretly working on its own AI systems, and they might transform Siri into something similar to ChatGPT.

According to a recent report, Apple is testing ChatGPT and other AI systems in the latest beta version of iOS 17.4. This suggests that Apple is comparing its own system (possibly called “Ajax”) with these other AI models.

If Apple can improve Siri to match the capabilities of advanced AI models like GPT-4, it could be a significant breakthrough for them, just like when they first introduced the iPhone.

Generative AI has been important for the companies developing it, but no one has found the perfect application or device for everyday consumers yet.

For the more than 1 billion iPhone users globally, the ideal AI device might already be in their pockets.

Source: cointelegraph.com