Graphic: AI demand, earnings optimism lift tech giants' market value in May

Samsung Electronics Co

02/06/2026 15:55

    June 2 (Reuters) - The world's most valuable technology companies with the exception of Alphabet GOOGL.O added billions of dollars in market value in May, as upbeat earnings outlooks and strong demand for AI chips fuelled a rally in their shares.
Apple AAPL.O, memory chipmakers Micron Technology MU.O, Samsung Electronics 005930.KS and SK Hynix 000660.KS led the gains, adding $598 billion, $512 billion, $481 billion and $377 billion, respectively, in market value. Their valuations rose to $4.58 trillion, $1.09 trillion, $1.10 trillion and $1.34 trillion, respectively.
     
In late April, Apple pointed to strong demand for its flagship iPhone 17 and MacBook Neo and announced a fresh $100 billion share buyback.  
Samsung reported an eightfold jump in first-quarter operating profit in April, while Micron drew analyst upgrades after saying its 2026 high-bandwidth memory (HBM) chips were already sold out and next-generation HBM4 products were in production.
Microsoft MSFT.O and Nvidia NVDA.O also gained, with their market values rising by $315 billion and $276 billion, respectively, to $3.35 trillion and $5.11 trillion.
Nvidia forecast second-quarter revenue above expectations in May and announced an $80 billion share repurchase programme.
Bucking the trend, Alphabet's market value dropped $59.77 billion to $4.59 trillion.
     
In the world's 20 most valuable companies including other sectors, banking group JPMorgan Chase JPM.N and retailing giant Walmart WMT.O saw the biggest falls in market capitalisation in May, by $130.47 billion and $37.3 billion, respectively, to $921 billion and $802 billion.
     
     

YTD change in market value https://reut.rs/49rby9K
Top 20 global companies by market value https://reut.rs/3JCm5o6
(Reporting by Gaurav Dogra in Bengaluru; Editing by Emelia Sithole-Matarise)
((gaurav.dogra@thomsonreuters.com; +91(080) 67496197;))