The World’s Largest Tech Companies In 2022: Apple Still Dominates As Brutal Market Selloff Wipes Trillions In Market Value

The World’s Largest Tech Companies In 2022: Apple Still Dominates As Brutal Market Selloff Wipes Trillions In Market Value

Marred by global supply shortages and regulatory crackdowns, a fewer number of tech companies appear on this year's Global 2000, Forbes' annual ranking of the world's largest public companies. Despite a steep sell-off erasing trillions of dollars in market value, the world's largest technology companies have remained resilient in the face of Wall Street bearishness—with many collecting record revenues and profits even as their dominance starts to slip. Apple heads up the technology ranks for the seventh-straight year thanks in part to record sales of $378. 7 billion, up nearly 29% from one year earlier. In January, CEO Tim Cook chalked up the record-breaking year to pent-up demand for devices boosting sales despite lingering chip shortages and other supply chain constraints. Supply-chain woes have been particularly bad for Samsung Electronics, which slipped 3 spots in the global rankings to become the world's fourth-largest tech company, down from second last year—and Covid lockdowns in China (where the firm operates a semiconductor factory) have only added to the pain. Amid the turmoil, Samsung lost its spot as the world's top smartphone-seller for the first time ever last year, ceding the throne to Apple. Though it posted record sales of $244 billion, the