The companies that may take over…
Apple first became the world’s most valuable company in 2011 and it has, for the most part, held on to the title ever since. But analysts at Needham say that could change soon.
Amazon.com (ticker: AMZN), Google-parent Alphabet (GOOGL) and Microsoft (MSFT) can all grow to be larger than Apple’s (AAPL) market valuation of close to $3 trillion, writes Needham’s Laura Martin in a research note. The firm says the growth of generative artificial intelligence could leave the iPhone maker dwarfed by rivals.
“Generative AI will redefine the basis of competition for media and internet companies,” Martin says. “It’s hard to pick losers today, because it’s very early. However, we believe that clear winners are the arms dealers that house large language models (LLMs).”