There has only been one company to cross the $5 trillion threshold: Nvidia (NVDA -0.02%). However, with the recent market sell-off, it currently sports a market cap of $4.4 trillion.
Over the next few years, sustained growth could drive several stocks across the $5 trillion market cap threshold. By 2028, I wouldn't be surprised if there are four companies valued at that level or higher.
I believe that Nvidia, Apple (AAPL -1.09%), Alphabet (GOOG -3.61%) (GOOGL -3.84%), and Microsoft (MSFT -0.45%) will reach this valuation level by 2028. It will require some strong growth to achieve this goal, but I believe all four of these stocks can accomplish it.
Image source: Getty Images.
1. Nvidia
At a $4.4 billion market cap, it won't take much for Nvidia to reach the $5 trillion threshold. As long as its graphics processing units (GPUs), which power artificial intelligence workloads, continue to be the most popular option, its stock should have no problems reaching the $5 trillion mark.
NASDAQ: NVDA
Key Data Points
Nvidia's management sees $500 billion of Rubin and Blackwell AI chip sales from the start of 2025 to the end of 2026. With Nvidia delivering $187 billion in revenue companywide over the past 12 months, this indicates monster growth ahead for Nvidia. I think this will easily push Nvidia's stock into $5 trillion valuation level sometime next year, easily allowing it to beat the other companies to this level.
2. Apple
Apple is currently the second-largest company in the world, with a valuation of $4.1 trillion. This means it must rise 21% between now and 2028 to attain a $5 trillion valuation level; however, it won't be an easy path for Apple. Despite being one of the most popular consumer electronics brands in the U.S., Apple has struggled to grow recently.
AAPL Revenue (Quarterly YoY Growth) data by YCharts
Although its revenue growth has accelerated over the past few years, 8% growth isn't all that fast. Furthermore, Apple already has a premium price tag over every stock on this list.
NVDA PE Ratio (Forward 1y) data by YCharts
At 29.8 times next year's earnings, Apple isn't a cheap stock. With others trading at a cheaper price tag and growing at a faster pace, they are certainly more attractive than Apple.
However, even if Apple grows its revenue at an 8% pace from now until 2028, that indicates 26% overall revenue growth. As long as Apple can maintain its valuation, it could become a $5 trillion company. If the market cuts its premium to Apple, it could fall short.
3. Alphabet
Alphabet was proclaimed a loser at the start of the AI buildout in 2023, as it seemed to be years behind the competition in launching generative AI models. However, Alphabet has made up that ground and then some, and is now one of the leaders in the AI arms race.
One of the biggest areas of concern for investors with Alphabet was the ability of its primary revenue driver, the Google Search engine, to remain competitive. Recent results show Alphabet is doing just fine, and integration of AI search overviews likely has something to do with its success.
NASDAQ: GOOGL
Key Data Points
In Q3, Google Search's revenue rose 15% year over year -- not bad for a mature business unit. With overall company revenue rising at a 16% pace and diluted earnings per share (EPS) increasing at a 35% pace, Alphabet has the growth needed to propel it to the $5 trillion level by 2028.
4. Microsoft
Microsoft is in a similar boat to Alphabet. It has a $3.6 trillion valuation right now (compared to Alphabet's $3.87 trillion), indicating Microsoft needs to grow 39% over the next three years to cross the $5 trillion threshold. In Q1 FY 2026 (ending Sept. 30), Microsoft's revenue rose 18% year over year, with its diluted EPS rising 13%. If Microsoft's growth rate drops to 15% over the next five years, that indicates 52% growth overall.
NASDAQ: MSFT
Key Data Points
With Microsoft generating a ton of money from its cloud computing platform, Azure, for facilitating the AI buildout, I think that growth rate is achievable for Microsoft. Its stock is priced at a reasonable level and delivering excellent growth, which makes me believe Microsoft will be able to obtain a $5 trillion valuation by the end of 2028.
