2 Companies Expected to Hit 1 Trillion Market Cap in the Second Half of the Year
Achieving a market cap of $1 trillion is a significant milestone for companies, representing their dominance in the market, financial stability, and impact on the economy. According to Finbold, two companies are likely to reach this coveted mark in the latter half of 2024.
Taiwan Semiconductor Manufacturing Company (NYSE: TSM) has established itself as a key player in the global tech supply chain, providing high-performance chips to tech giants like Apple (NASDAQ: AAPL) and Nvidia (NASDAQ: NVDA). The company’s innovative prowess has driven its stock price close to the $1 trillion threshold, with a remarkable 50% rally in 2024, closing at $164.
TSMC’s anticipated market cap surge is fueled by the continuous global demand for semiconductors, driven by advancements in 5G technology, artificial intelligence, and the Internet of Things. The company’s investments in expanding production capacity and strong financial performance, as seen in its first-quarter earnings, further contribute to investor confidence. With a current market cap of $852.647 billion, TSMC needs a 17% upside to hit $1 trillion.
On the other hand, Berkshire Hathaway (NYSE: BRK.A), led by Warren Buffett, is also on track to join the trillion-dollar club. Known for its diverse portfolio and strategic acquisitions, Berkshire Hathaway’s resilience and growth have been evident throughout 2024, with the stock trading at $413.72, up almost 15% year to date. The company’s insurance and utilities businesses, along with its investments in companies like Apple and Coca-Cola, have been key drivers of its market value.
The potential for TSMC and Berkshire Hathaway to achieve a $1 trillion market cap underscores investor confidence in the tech and diversified conglomerate sectors. However, reaching this milestone will depend on how the overall market performs in the second half of 2024.
(Note: This content should not be considered investment advice. Investing carries risks, and capital is at stake.)
