Dubai: Khaled Musa
The shares of the “seven giants” led by “Nvidia” recorded strong performance in the first half of 2024, except for “Tesla”, which lost 20.36% since the beginning of the year. Companies excluding Tesla added $3.889 trillion to their market value.
Tesla lost $158 billion in market value in the first half of 2024, reaching $631.07 billion at the close last Friday, June 28, compared to $789.89 billion at the end of 2023.
“NVIDIA” shares topped the tech giants in terms of gains as shares of the world’s largest maker of artificial intelligence chips surged 149.47%. The firm added $1.815 trillion in the first half, reaching $3.038 trillion at the end of the session on Friday, June 28, and $1.223 trillion by the end of 2023.
“Meta” follows on from the company’s gains, with its shares up 42.45% year-to-date. The company added $369 billion to its market value, reaching $1.278 trillion by the end of the session, and $909.62 billion by the end of 2023.
In third place is Alphabet, which gained 30.40%. The company added $502 billion to its market value, reaching $2.258 trillion by the end of the session, and $1.756 trillion by the end of 2023.
In fourth place is Amazon, whose stock is up 27.19% since the start of the year, entering the two trillion dollar club for the first time in its history last June. The company added $441 billion to its market value, reaching $2.011 trillion at the end of the June sessions, the second quarter and the first half, up from $1.570 trillion at the end of 2023.
Fifth in terms of gains was Microsoft, whose stock is up 18.86% year-to-date. The company added $527 billion to its market value, reaching $3.321 trillion at Friday’s close, compared with $2.794 trillion at the end of 2023.
Despite fierce competition with NVIDIA for the position of second most valuable company in the world, Apple took sixth place with a profit of 9.40%. Apple added $235 billion to its market value, reaching $3.229 trillion at the end of the June 28 session, and $2.994 trillion by the end of 2023.
