<div id="readability-page-1"><div><div><p>Wall Street’s behemoths just hit a milestone that borders on surreal: the 10 most valuable U.S. companies—including <strong>Nvidia Corp. </strong><span>NVDA</span>, <strong>Microsoft Corp. </strong><span>MSFT</span> and <strong>Apple Inc. </strong><span>AAPL</span> and the rest—now hold a combined market cap of $23.9 trillion, making them more valuable than the entire economies of China and Germany combined.</p><p>According to the latest International Monetary Fund data, China's gross domestic product stands at $19.23 trillion, while Germany's is $4.74 trillion, making this group of companies collectively more valuable than the world's second- and third-largest economies.</p><p>Even more striking, seven of these giants—known as the Magnificent Seven—are responsible for over $20 trillion of that total on their own.</p><h2>Nvidia Leads With $4.25 Trillion Market Cap</h2><p>At the top of the pile sits Nvidia, whose meteoric rise amid the AI boom has made it the most valuable company in the world. </p><p>As of mid-September, its market cap stands at $4.25 trillion, after a 30.25% gain year-to-date, and a jaw-dropping 1,225% price increase over the last three years.</p><h2><strong>Despite Concentration And Valuation Risks, Analysts Still Bet On Growth</strong></h2><p>Over the past three years, companies like Nvidia, Meta, and Broadcom have delivered returns that rival early-stage startups — with triple- and even quadruple-digit gains. The group's median return since September 2022 exceeds 150%, and the market-cap weighted average sits north of 370%.</p><p>These 10 stocks now account for 39% of the S&amp;P 500's entire market cap, the highest concentration level ever recorded in U.S. equity history.</p><p>This has both upside and risk: while stocks like Nvidia and Microsoft continue to deliver eye-watering gains, any stumble in these names — whether due to regulatory pressure, earnings misses, or broader tech fatigue — could have outsized ripple effects on the broader market.</p><p>Investors also need to weigh valuation risk. The median forward price-to-earnings ratio (next twelve months) across the top 10 stocks is 31.9x, while the market-cap weighted average sits at 42.1x—well above historical averages. </p><p>Still, Wall Street isn't pulling back. Analysts forecast an average upside of 5.83%, according to the median 12-month price target, with leaders like Nvidia and Microsoft expected to climb another 20.08% and 23.76%, respectively.</p><p>Tesla, however, looks most stretched, with a P/E ratio of 214.7x and an expected 21.97% downside, based on current consensus targets.</p><h2>What This Means For Investors</h2><p>For investors, this $23.9 trillion milestone means these companies delivered exceptional long-term returns. But with great size comes great sensitivity. Investors now face concentrated exposure to a small set of companies with lofty valuations.</p><p>This means portfolios are more vulnerable to sharp corrections if market sentiment shifts or if earnings disappoint.</p><p>When companies start to outweigh countries, market impact becomes a matter of global scale.</p><p><strong>Now Read</strong>:</p><ul> <li><strong>China Bans Nvidia Chip Purchases For Major Tech Firms: NVDA Stock Falls In Wednesday Pre-Market</strong></li> </ul><p><em>Image: Shutterstock</em></p></div></div></div>

<p>The ten most valuable U.S. companies, including Nvidia and Microsoft, have a combined market cap of $23.9 trillion, surpassing the economies of China and Germany. Nvidia leads with a market cap of $4.25 trillion, driven by a 30.25% year-to-date gain. Despite high valuations and concentration risks, analysts predict continued growth, with Nvidia and Microsoft expected to rise by over 20%. However, investors face risks from potential market corrections due to the concentrated exposure to these high-value stocks.</p>

- The ten most valuable U.S. companies, including Nvidia, Microsoft, and Apple, have reached a combined market cap of $23.9 trillion, surpassing the economies of China and Germany.  
- Nvidia leads with a market cap of $4.25 trillion, reflecting significant growth amid the AI boom, while the group's median return since September 2022 exceeds 150%.  
- This concentration poses risks for investors, as any downturn in these stocks could lead to substantial market impacts, highlighting the sensitivity of portfolios heavily weighted in these high-valuation companies.

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Nvidia, Microsoft Sit Atop A $23.9 Trillion Empire—More Than China And Germany Combined