The chip manufacturer saw its market value soar by over $2 trillion last year, culminating at $3.28 trillion by the end of 2024, positioning it as the second-most valuable publicly traded company worldwide. At the close of 2023, its market value stood at $1.2 trillion.
In contrast, Apple (AAPL) maintained its position as the most valuable global company, approaching a landmark $4 trillion valuation. This increase was driven by investor excitement regarding the company's expected AI advancements, which are intended to rejuvenate its sluggish iPhone sales.
By the end of 2024, Microsoft (MSFT) held the third spot with a market value of $3.1 trillion, followed closely by Alphabet Inc (GOOG, GOOGL) and Amazon (AMZN), each valued at around $2.3 trillion.
These technology giants significantly contributed to the performance of global indexes in 2024, with the S&P 500 (^GSPC) index rising by 23.3% and the Nasdaq (^IXIC) increasing by 28.6%.
Despite the elevated valuations of shares, concerns regarding U.S.-China tariff disputes and the possibility of slower interest rate cuts in the U.S. have not dampened analysts' optimism for the continued strong performance of tech companies in 2025.
Daniel Ives from Wedbush forecasts a 25% increase in tech stocks for 2025, citing potential growth stemming from a more favorable regulatory environment under Donald Trump, upcoming robust AI initiatives, and a solid foundation for Big Tech and Tesla moving forward.
"We anticipate that tech stocks will thrive in 2025, driven by the AI Revolution and over $2 trillion in incremental AI capital expenditures over the next three years," he stated.