Apple is still the world’s most valuable company, pulling ahead of Alphabet – ex-Google – in 2017, having temporarily been dethroned in early 2016.
This is according to PwC’s Global Top 100 companies ranking for 2017 which noted that the US is the largest contributor to the list with 55 companies which contribute 63% of the overall market capitalisation.
All companies in the Top 10 are US companies powered by Facebook, Bank of America and JPMorgan Chase.
The market capitalisation of the 100 largest companies increased by $1,861 billion or 12% compared to March 2016, according to PwC’. This increase more than reversed the dip in 2016 and is the highest value on record.
Apple retains pole position for the sixth year in a row, and this year again clearly pulled ahead of the second ranked Alphabet, managing to double the valuation gap to $175 billion from $86 billion in 2016.
“It is particularly remarkable as Apple also returned more cash to shareholders, with another $29 billion handed back to investors in dividends and share repurchases in calendar year 2016 – $42bn was distributed in calendar 2015). Alphabet only returned $4 billion in 2016,” the report said.
Technology continued to be just ahead of the financial sector for a second year, underlining the lasting attractiveness of tech companies, PwC said.
The global top three remain technology companies: Apple, Alphabet, Microsoft, closely followed by Facebook in sixth position.
“These giants have an unequalled global reach and have changed our lives and the way we communicate and interact,” PwC said.