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In this article, we will discuss the 15 biggest tech companies in the world after the 2022 stock market collapse. If you want to explore similar tech companies, you can also take a look at 5 Biggest Tech Companies In The World After the 2022 Stock Market Collapse.
2022 has been a bad year for the stock market. What started off as minor inflation has now reached 40-year highs. The Fed's reaction to the alarmingly high inflation rate sent reverberations to the equities market and caused rampant sell-offs, with all major market indices declining. Russia's invasion of Ukraine played a role in driving the downtrend in emerging markets, and a further catalyst was the dollar, which has remained strong throughout 2022.
The Worst Might Be Over, Markets Rally On Weak CPI Report
On November 10, The Bureau of Labor Statistics released the CPI report for October which showed signs of the economy cooling. The all-items index rose 7.7% year over year, the smallest twelve-month increase since the period ending January 2022. The all items less food and energy index recorded an increase of 6.3% year over year, the energy index rose 17.6% over the twelve months ending October, and the food index increased 10.9% over the past twelve months. All of these components declined from the numbers that came out in September. Some experts are saying inflation may have peaked and the markets rallied on a weak CPI print for October, with the S&P 500 going back up to 3,900, the Dow surging to 33,400, and the Nasdaq rising to 10,900.
"We Are Starting To See Some Benefits That The Fed Is Looking For"
Shortly after the CPI report for October was released, Jefferies' chief market strategist David Zervos appeared in an interview on CNBC where he discussed his take on the inflation data and what to expect from the Fed moving forward. Zervos noted that the weak CPI report "is a lot of relief" and that now we are in a "fine-tuning phase" since "we have done the heavy lifting, we have had 400 basis points done already". For year-end, Zervos sees the Fed raising rates by another 50 basis points or potentially 75 basis points and said that "we have a lot of QT (quantitative tightening) to get through". Zervos noted that "there's a lot of tightening in the hopper" and that "we are starting to see some benefits that the Fed is looking for" and this is good for the markets.
Tech companies have been hammered hard in 2022, and their valuations have suffered due to the higher borrowing costs. This article will look at some of the biggest tech companies in the world, which include Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Amazon.com, Inc. (NASDAQ:AMZN). Despite historic losses, these companies remain the market leaders in the technology sector.
Photo by Adam Nowakowski on Unsplash
Our Methodology
We screened for the biggest tech companies in the world by market cap. Along with each company, we have mentioned salient features such as its business model, competitive advantages, and position in the industry. We also included relevant news with each company such as recent earnings, if reported, and analyst ratings and price targets. These companies are ranked in increasing order of their market caps.
15 Biggest Tech Companies In The World After The 2022 Stock Market Collapse
15. SAP SE (NYSE:SAP)
Market Cap as of November 10: $121.68 Billion
SAP SE (NYSE:SAP) is a leading global provider of enterprise software and software-related services. The company offers a wide range of software products and services, including enterprise resource planning (ERP), data management, business intelligence, and customer relationship management (CRM). SAP SE (NYSE:SAP) has a strong competitive advantage in the enterprise software industry due to its comprehensive product portfolio, global scale, and customer base.
SAP SE (NYSE:SAP) is a well-established company with a strong track record of growth. The company has a strong balance sheet, with over EUR 3.87 billion in free cash flows. SAP SE (NYSE:SAP) is among the largest tech companies in the world and, as of November 10, has a market cap of $121.68 billion.
On October 25, SAP SE (NYSE:SAP) announced earnings for the fiscal third quarter of 2022. The company reported earnings per share of $1.11 and generated a revenue of $7.81 billion, outperforming estimates by $312.29 million. On October 26, JPMorgan analyst Toby Ogg raised his price target on SAP SE (NYSE:SAP) to EUR 116 from EUR 115 and maintained an Overweight rating on the shares.
Here is what Polen Capital had to say about SAP SE (NYSE:SAP) in its third-quarter 2022 investor letter:
“SAP SE (NYSE:SAP) is Europe’s largest software company and the global leader in enterprise resource planning (ERP) software. ERP is a software category that is particularly critical to business functions, and, therefore, has high retention rates even in times of economic stress. For the past several years, SAP has been going through several transitions, including moving to cloud-based SaaS (Software as a service) solutions and an initiative to better integrate its various software solutions. In recent quarters, we have seen increasing evidence that both transitions are being successfully executed, and the result should be a faster-growing, more consistent, higher margin, and more advantaged business. As investment costs from these transition programs wane, and as the benefits of higher growth continue, we expect that earnings will grow at a double-digit rate from next year (2023) onwards. In light of this, we believe the valuation is very attractive for longterm investors.”
14. International Business Machines Corporation (NYSE:IBM)
Market Cap as of November 10: $124.30 Billion
International Business Machines Corporation (NYSE:IBM) is a leader in cutting-edge areas of technology such as cloud computing, artificial intelligence, and quantum computing. The company has a long history of innovation and has been a leader in the technology industry for decades. The company has a vast global reach with operations in over 170 countries. International Business Machines Corporation (NYSE:IBM) has a highly skilled workforce and is a trusted provider of technology solutions to businesses and governments around the world. Moreover, the company has a strong financial position and is one of the most valuable brands in the world. International Business Machines Corporation (NYSE:IBM) has free cash flows of $6.99 billion and is worth $124.30 billion on the open market, as of November 10.
On October 6, Morgan Stanley analyst Erik Woodring updated his price target on International Business Machines Corporation (NYSE:IBM) to $152 from $155 and maintained an Overweight rating on the shares.
On October 25, International Business Machines Corporation (NYSE:IBM) declared a quarterly cash dividend of $1.65 per common share. The dividend is payable on December 10 to stockholders of record on November 10. As of November 10, the stock is offering a forward dividend yield of 4.68%.
13. QUALCOMM, Incorporated (NASDAQ:QCOM)
Market Cap as of November 10: $124.36 Billion
QUALCOMM, Incorporated (NASDAQ:QCOM) is a global leader in mobile technology and innovation. The company pioneered 3G and 4G – and is now leading the way to 5G and a new era of intelligent, connected devices. QUALCOMM, Incorporated (NASDAQ:QCOM) enables mobile operators to offer enhanced mobile broadband and services. The company is also revolutionizing the automotive industry with its cutting-edge connectivity solutions. QUALCOMM, Incorporated (NASDAQ:QCOM) is a company with a long history of success and is well-positioned to continue this into the future. The company is among the biggest tech companies in the world and is worth $124.36 billion on the open market, as of November 10.
On November 2, QUALCOMM, Incorporated (NASDAQ:QCOM) posted earnings for the fiscal fourth quarter of 2022. The company reported earnings per share of $3.13 and generated a revenue of $11.39 billion, up 22.17% year over year, and outperformed estimates by $23.36 million.
This November, Deutsche Bank analyst Ross Seymore revised his price target on QUALCOMM, Incorporated (NASDAQ:QCOM) to $150 from $160 and maintained a Buy rating on the shares.
12. Adobe Inc. (NASDAQ:ADBE)
Market Cap as of November 10: $140.04 Billion
Adobe Inc. (NASDAQ:ADBE) is the global leader in software solutions for creating and delivering digital content. The company’s product portfolio includes Creative Cloud, Photoshop, InDesign, and Adobe Experience Manager. Adobe Inc. (NASDAQ:ADBE) has a diversified customer base that includes enterprises, small and medium businesses, and individual consumers. The company is benefiting from the global shift to digital content and the growing demand for cloud-based solutions.
Adobe Inc. (NASDAQ:ADBE) is well-positioned to continue gaining market share and delivering strong growth in the future. The company is one of the biggest tech companies in the world by market cap and is valued at $140.04 billion, as of November 10.
On October 13, Barclays analyst Saket Kalia revised his price target on Adobe Inc. (NASDAQ:ADBE) to $330 from $340 and maintained an Equal Weight rating on the shares.
Here is what Distillate Capital Partners LLC had to say about Adobe Inc. (NASDAQ:ADBE) in its third-quarter 2022 investor letter:
“The largest new purchases includes Adobe Inc. (NASDAQ:ADBE). Adobe trailed the overall benchmark by a signi?cant 20% and saw its valuation improve considerably. Similar to our prior presentations, one way to visualize the current portfolio and note recent changes versus the benchmark is to look at scatter plot of all of Distillate’s FSV holdings versus those in the benchmark with valuation on the vertical axis and free cash ?ow stability on the horizontal axis.”
Some of the biggest tech companies in the world include Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Amazon.com, Inc. (NASDAQ:AMZN).
11. Salesforce, Inc. (NYSE:CRM)
Market Cap as of November 10: $144.52 Billion
Salesforce, Inc. (NYSE:CRM) is a global cloud computing company headquartered in San Francisco, California. The company offers a suite of cloud-based applications for customer relationship management (CRM) and enterprise resource planning (ERP), as well as a platform-as-a-service (PaaS) product called Force.com. On November 2, Macquarie analyst Sarah Hindlian-Bowler started coverage of Salesforce, Inc. (NYSE:CRM) with an Outperform rating and a $210 price target.
Salesforce, Inc. (NYSE:CRM) has a number of competitive advantages in the industry. One is the company's focus on customer success. The company has a dedicated team of sales, success, and support professionals who work with customers to help them get the most out of the Salesforce platform. This focus on customer success has helped the company build a large and loyal customer base. Salesforce, Inc. (NYSE:CRM) has built a robust and scalable platform that can handle a large number of users and a large amount of data. Finally, Salesforce, Inc. (NYSE:CRM) has a strong ecosystem. The company has built a large network of partners and developers who create a wide range of applications and services that extend the functionality of the Salesforce platform. This ecosystem provides customers with a one-stop shop for all their cloud-based needs. Salesforce, Inc. (NYSE:CRM) is ranked among the biggest tech companies in the world.
Here is what ClearBridge Investments had to say about Salesforce, Inc. (NYSE:CRM) in its third-quarter 2022 investor letter:
“Software has been a solid long-term performer for the Strategy and a key point of differentiation versus the benchmark. But even recurring revenue businesses enabling digital transformation are not immune from the vagaries of the COVID-19 recovery. Salesforce, Inc. (NYSE:CRM) (-12.8%) has detracted from results due to slowing revenue growth driven by a combination of factors, including pull-forward of enterprise digitization demand during COVID-19, some operational missteps, and lengthening sales cycles.
We believe the company still has ample room for revenue growth across its various platforms and should benefit from budget consolidation as customers seek control over tech spending in a weakening economy. We also see significant room for margin expansion. While we have trimmed our Salesforce (CRM) exposure, we maintain confidence that the stock will rerate to a level that reflects its growth potential.”
10. Texas Instruments Incorporated (NASDAQ:TXN)
Market Cap as of November 10: $147.65 Billion
Texas Instruments Incorporated (NASDAQ:TXN) is a global semiconductor design and manufacturing company that develops analog ICs, embedded processors, and other semiconductor solutions. The company's products are used in a variety of end markets, including automotive, industrial, communications, computing, and consumer electronics.
Texas Instruments Incorporated (NASDAQ:TXN) has a diversified customer base and a strong presence in key markets. The company's products are widely recognized for their quality and reliability. Texas Instruments Incorporated (NASDAQ:TXN) has a long history of innovation and has been a leader in the semiconductor industry. The company has a strong balance sheet and generates a significant amount of cash flow. The company has free cash flows of over $5.92 billion. Texas Instruments Incorporated (NASDAQ:TXN) is well-positioned to continue its strong performance in the future and has a market cap of $147.65 billion, as of November 10. The company is ranked among the biggest tech companies in the world.
On October 26, Deutsche Bank analyst Ross Seymore updated his price target on Texas Instruments Incorporated (NASDAQ:TXN) to $155 from $160 and maintained a Hold rating on the shares.
9. Accenture Plc (NYSE:ACN)
Market Cap as of November 10: $178.65 Billion
Accenture Plc (NYSE:ACN) is a leading global professional services company that provides a range of services and solutions in strategy, consulting, digital, technology, and operations. With more than 721,000 people serving clients in over 120 countries, Accenture Plc (NYSE:ACN) drives innovation to improve the way the world works and lives. Its clients include 91 of the Fortune Global 100 and more than three-quarters of the Fortune Global 500. The company is headquartered in Dublin, Ireland. Accenture Plc (NYSE:ACN) is among the biggest tech companies in the world and is worth $178.65 billion on the open market, as of November 10.
On September 22, Accenture Plc (NYSE:ACN) announced market-beating earnings for the fiscal fourth quarter of 2022. The company reported an EPS of $2.60 and outperformed consensus by $0.03. The company generated a revenue of $15.42 billion, up 14.94% year over year, and beat estimates by $18.32 million.
On September 23, Citi analyst Ashwin Shirvaikar revised his price target on Accenture Plc (NYSE:ACN) to $305 from $315 and maintained a Buy rating on the shares.
Here is what Distillate Capital Partners LLC had to say about Accenture plc (NYSE:ACN) in its third-quarter 2022 investor letter:
“The largest new purchases includes Accenture plc (NYSE:ACN). Accenture modestly lagged the market last quarter and became similarly attractive enough to warrant ownership. Similar to our prior presentations, one way to visualize the current portfolio and note recent changes versus the benchmark is to look at scatter plot of all of Distillate’s FSV holdings versus those in the benchmark with valuation on the vertical axis and free cash ?ow stability on the horizontal axis.”
8. Cisco Systems, Inc. (NASDAQ:CSCO)
Market Cap as of November 10: $180.17 Billion
Cisco Systems, Inc. (NASDAQ:CSCO) is a leading provider of networking equipment and software. The company has a strong product portfolio and a global customer base. Cisco Systems, Inc. (NASDAQ:CSCO) is well-positioned to benefit from the continued growth of the Internet and the demand for more bandwidth and capacity. The company is also investing in new growth areas such as cloud computing and security. Cisco Systems, Inc. (NASDAQ:CSCO) has a strong balance sheet and free cash flows of $12.74 billion. As of November 10, the company has a market cap of $180 billion and is ranked among the biggest tech companies in the world.
This August, KGI Securities analyst Jackson Chiang upgraded Cisco Systems, Inc. (NASDAQ:CSCO) to Outperform from Neutral and reiterated his $53 price target. On November 9, Evercore ISI analyst Amit Daryanani maintained an Outperform rating and his $56 price target on Cisco Systems, Inc. (NASDAQ:CSCO) and added the company to Evercore ISI's "Tactical Outperform" list.
Cisco Systems, Inc. (NASDAQ:CSCO) has a strong brand name and reputation in the networking industry. This gives it a significant advantage over its competitors in terms of winning new customers and partners. The company has a comprehensive product portfolio and offers a wide range of networking products and solutions, which gives it the ability to address the needs of a wide range of customers. Furthermore, Cisco Systems, Inc. (NASDAQ:CSCO) has a global sales and distribution network which gives it a significant advantage in terms of reach and coverage.
7. ASML Holding N.V. (NASDAQ:ASML)
Market Cap as of November 10: $199.31 Billion
ASML Holding N.V. (NASDAQ:ASML) is a world leader in the manufacturing of lithography systems for the semiconductor industry. The company's products are used in the production of integrated circuits (ICs), which are tiny electronic components that power everything from computers and cell phones to medical devices and automobiles. The company's lithography systems are based on extreme ultraviolet (EUV) technology, which is considered the next generation of semiconductor manufacturing. EUV lithography is faster and more precise than the current industry standard, and it is expected to enable the production of smaller and more powerful semiconductor devices.
The company's strong competitive advantages include its leading market position, its cutting-edge technology, and its strong financial performance. The company has a history of innovation, and its products are used by some of the world's largest semiconductor manufacturers. ASML Holding N.V. (NASDAQ:ASML) is well-positioned to continue its success in the future and, as of November 10, is worth $199.3 billion on the open market. ASML Holding N.V. (NASDAQ:ASML) is ranked high among the biggest tech companies in the world.
On November 10, ASML Holding N.V. (NASDAQ:ASML) announced that the company intends to repurchase shares worth EUR 12.0 billion through December 31, 2025. This November, Morgan Stanley analyst Lee Simpson took coverage of ASML Holding N.V. (NASDAQ:ASML) with an Overweight rating and a EUR 650 price target.
Here is what Baron Funds had to say about ASML Holding N.V. (NASDAQ:ASML) in its second-quarter 2022 investor letter:
“ASML Holding N.V. designs and manufactures semiconductor production equipment. It specializes in photolithography equipment, where light sources are used to photo-reactively create patterns on wafers that become printed circuits. ASML is the dominant leader across all types of lithography but, most importantly, is the only company selling equipment for extreme ultra-violet (EUV) lithography, the latest generation technology.
Indeed, because of the stalling out of Moore’s Law, advanced lithography of larger and multi-patterned silicon chips has been critical for leading-edge chip manufacturing and continued improvement in semiconductor chip performance over time. The company is well positioned to continue growing above industry rates as it rapidly adds capacity across its entire business to meet rising industry demand, especially from leading-edge customers continuing to invest to stay ahead of their competitors and drive chip performance forward.
Additionally, the introduction of high-NA EUV technology in the middle of the decade will add another leg to the growth opportunity.”
6. Broadcom Inc. (NASDAQ:AVGO)
Market Cap as of November 10: $200.22 Billion
Broadcom Inc. (NASDAQ:AVGO) is a global technology leader that designs, develops, and supplies semiconductor and infrastructure software solutions. Broadcom Inc. (NASDAQ:AVGO) has a number of competitive advantages that have contributed to its success as a global technology leader. One key competitive advantage is the company's ability to design and develop highly innovative and differentiated products. This has allowed Broadcom Inc. (NASDAQ:AVGO) to become one of the biggest tech companies in the world and gain a significant market share in several key markets, including the broadband and wireless markets. The company is worth $200.2 billion, as of November 10.
On September 1, Broadcom Inc. (NASDAQ:AVGO) announced earnings for the fiscal third quarter of 2022. The company reported earnings per share of $9.73 and beat expectations by $0.18. The company generated a revenue of $8.46 billion, up 24.87% year over year, and outperformed estimates by $57.49 million.
On September 2, Mizuho analyst Vijay Rakesh maintained a Buy rating on Broadcom Inc. (NASDAQ:AVGO) and reiterated his $725 price target on the shares.
Here is what Carillon Tower Advisers had to say about Broadcom Inc. (NASDAQ:AVGO) in its second-quarter 2022 investor letter:
“Tech stocks, including Broadcom Inc. (NASDAQ:AVGO), were one of the hardest-hit sectors due to fears over a weakening macroeconomic environment. Broadcom, however, outperformed semiconductor peers as its end-market exposures provided relatively more defensive characteristics.”
Broadcom Inc. (NASDAQ:AVGO) joins mega caps like Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Amazon.com, Inc. (NASDAQ:AMZN), in leading the tech sector.
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Disclosure: None. 15 Biggest Tech Companies In The World After the 2022 Stock Market Collapse is originally published on Insider Monkey.
