Elon Musk Forecasts Tesla's Market Valuation to Eclipse Apple and Saudi Aramco Combined

Elon Musk, the Chief Executive Officer of Tesla Inc. TSLA, recently affirmed his earlier predictions about the potential future market capitalization of his company. Musk suggests that within the next five years, Tesla could outgrow the combined market values of tech titan Apple Inc. AAPL and the oil behemoth Saudi Aramco. This bold statement underlines Musk's confidence in Tesla's ability to perform 'extremely well' in the foreseeable future, thereby achieving unprecedented growth in its market cap.

Apple Inc.: A Tech Powerhouse

Apple Inc. AAPL sits at the pinnacle of the technology sector as a global leader with staggering revenues that reached $274.5 billion in 2020. Claiming the title of the largest technology firm by revenue and the most valuable company globally since January 2021, Apple's influence stretches across various domains. Apart from being the fourth-largest PC vendor, it also holds the position of the fourth-largest smartphone manufacturer. In the arena of the Big Five American IT companies, it stands among others like Amazon, Google, Microsoft, and Facebook, reflecting its colossal stature in the industry.

Tesla Inc.: Spearheading Electric Mobility and Clean Energy

An iconic figure in the electric vehicle (EV) sphere, Tesla Inc. TSLA is rooted in Palo Alto, California and is widely recognized for its contributions to advancing electric transportation and sustainable energy solutions. Along with its popular range of electric vehicles, Tesla's portfolio includes large-scale battery storage systems, solar panels, and solar roof tiles. Dominating the EV market in 2020, Tesla not only led plug-in and battery electric passenger car sales but also made significant inroads in energy generation and storage through its subsidiary, Tesla Energy, delivering a substantial 3 GWh of battery storage that same year.

Tesla, Apple, MarketCap