Published on 2 May 2024 on Insider Monkey via Yahoo Finance
25 Most Profitable Companies in the US
In this piece, we will take a look at the 25 most profitable companies in the US. If you want to skip our overview of the US economy and the current business climate, you can jump ahead to the 5 Most Profitable Companies in the US.
With the second quarter of 2024 with us, Wall Street is focused on determining whether companies that are investing in AI are actually bringing in money or whether they are investing costly capital to set themselves up for future growth. Firms that belong to the former sector, i.e. those that are making money from AI, have been rewarded as has been the case with Microsoft Corporation (NASDAQ:MSFT). Just like NVIDIA is Wall Street's favorite AI stock when it comes to semiconductors needed to power up large data processing software, Microsoft is the king of the jungle when it comes to AI software. In the latter segment, the best example is Meta Platforms, Inc. (NASDAQ:META) whose shares have dropped after the latest earnings report revealed that 2024 will require an additional $40 billion in capital to fund AI growth.