5 companies that could hit $4 trillion in market cap next

When Nvidia $NVDA's market capitalization topped $4 trillion in July, it was a feat no company had ever achieved. It was just seven years ago, in fact, that Apple $AAPL hit the $1 trillion mark, a level that was unimaginable before that.

The AI race has changed everything. Valuations of private companies like OpenAI hover around $325 billion, while publicly-traded companies have become investor darling with skyrocketing market caps. Thus, Nvidia's accomplishment was matched just three weeks later, when Microsoft $MSFT became the second member of the $4 trillion club. (The cryptocurrency market has also topped $4 trillion, but for this exercise, we'll focus on publicly traded companies.)

Market caps fluctuate with a company's stock price. Today, Nvidia is still above the $4 trillion mark, with a value of $4.33 trillion. Microsoft has dipped down below it for now, at $3.83 trillion as of market close on Monday.

It's just a matter of time before other companies join them at that level. Here are a few that could get there next.

Bloomberg

The first member of the $1 trillion club has seen its momentum slow somewhat, but it's still one of the most valuable companies on the market. Its stock is trading just shy of $237, which puts its market cap at $3.51 trillion as of Monday evening. When it gets in the neighborhood of $265 per share — a 12% increase — that could put it over the top. With a new line of iPhones on the way and the holiday shopping season nearing, it could happen in the next few months.

Justin Sullivan

The parent company of Google $GOOGL hit the $3 trillion mark on Monday. While adding $1 trillion to that total might sound like a daunting task, it's worth noting that Alphabet topped $2 trillion just 17 months ago, in April 2024. Big traders on Wall Street have been bullish on the stock following the lighter-than-expected penalties in the ruling on the Justice Department's antitrust case against the company. Alphabet is also a key player in the AI world, which makes it appealing to investors.

PATRICK T. FALLON

Amazon $AMZN still has its eyes on the $3 trillion mark, with a current market cap of $2.47 trillion. The company's cloud unit could be increasingly important as artificial intelligence begins to gain widespread acceptance. (Amazon Web Services is currently the top profit driver at the company, with Q1 revenue up 17%.) Amazon is also exploring cost cutting measures in its fulfillment centers, which could catch investor interest and drive the stock price higher.

Bloomberg

Meta $META would need to more than double its market cap, which currently stands at $1.92 trillion, to hit the $4 trillion mark. The company has a lot of irons in the fire, though. Its user engagement numbers are the envy not just of all social media rivals, but of any public-facing business in general. It's building its own AI system, which has a lot of metrics to draw from given how obsessively Meta has collected user data. And the company's ad business remains robust. It's not likely to be the next company to reach the $4 trillion milestone, but it would be foolish to count it out.

Justin Sullivan

Broadcom $AVGO might seem like a dark horse for a $4 trillion market cap, but news earlier this month that the company had struck a deal to help OpenAI design and produce AI chips — with production set for as early as next year — gave the stock a big boost and spooked Nvidia $NVDA investors. It's still early, of course, but should these chips emerge as a real competitor to Nvidia, Broadcom could see its market cap jump from its current $1.72 trillion to a much higher number.