The United States is leaving Europe behind despite major price losses from US tech companies on the stock exchange. Of the 100 most valuable listed companies in the world, 61 come from the USA, just one less than in the previous year, as an analysis by the consulting firm EY shows. There is no European company in the top ten and only one from outside the US – the oil company Saudi Aramco.
Apple remained at the top of the ranking published today with a market value of just over two trillion dollars, ahead of Saudi Aramco and Microsoft. Germany and Austria are not even represented in the top 100 – the software manufacturer SAP, as the most valuable DAX value, only comes in 106th.
Big losses
Companies from the USA have dominated the world stock exchanges for many years – spurred on by the growth of tech companies, which had rapidly increased in value in the stock market boom of recent years. But with the interest rate hikes by the major central banks in the weak stock market year 2022, the interest-sensitive tech giants faced headwind.
According to EY, technology companies lost 33 percent of their market value over the course of the year. Tesla, Apple, Meta, Microsoft, Alphabet and Amazon alone lost a total of 4.6 trillion dollars (4,323.31 billion euros).
