We probably all agree that the world will look different in 2034. However, much will probably remain more or less the same as now.
For example, I expect Nvidia (NASDAQ: NVDA) will still be one of the largest and most influential companies in the world. Despite my optimism about the leader in AI chips, I don’t think it will be the largest company in the world. I predict that these three stocks will be worth more than Nvidia in ten years.
1. Apple
Apple (NASDAQ: AAPL) ranked as the world’s largest company by market capitalization for most of the past decade. It lost the top spot for a while and even fell to third place behind Nvidia for a brief period. However, Apple is once again competing neck and neck for the number 1 position. I predict it will hold this spot firmly by 2034.
You could say that Apple was a sleeping giant with generative AI for a while. The company didn’t jump on the bandwagon like several other technology leaders did after OpenAI released its wildly popular ChatGPT. That is no longer the case.
Some found Apple’s new AI functionality, which was unveiled earlier this week at the Worldwide Developers Conference (WWDC), disappointing. On the other hand, many investors seemed to see Apple Intelligence (the name the company gave to its generative AI products and services) as a likely catalyst for another iPhone upgrade supercycle.
One thing is certain: Apple is no longer asleep at the wheel on all things AI. I fully expect the company to dominate edge AI (running AI on devices rather than in the cloud). I would also bet that the service sector will continue to grow rapidly.
2.Microsoft
Microsoft (NASDAQ: MSFT) has gone back and forth with Apple as the world’s largest company. While I don’t think Microsoft will ultimately retain the top spot, I expect the company to remain bigger than Nvidia in ten years.
Probably the biggest reason for my prediction about Microsoft is its relationship with OpenAI. The massive tech company’s impressive gains since early last year are largely due to the integration of OpenAI’s large language model (LLM) across its product range. I expect OpenAI to remain one of the leading innovators in AI. As a result, I think Microsoft will continue to benefit from its relationship with the AI pioneer.
I also hope that Microsoft’s cloud unit will have more sources for AI chips in the future, including its own custom silicon. If I’m right, this should increase the company’s profitability as the laws of supply and demand work their magic on driving down chip prices. As Microsoft’s profits rise, so too does its stock price and market capitalization – at least in the long term. Moreover, the increased competition could prevent Nvidia from dethroning Microsoft and Apple.
3. Alphabet
Alphabet‘S (NASDAQ: GOOG) (NASDAQ: GOOGL) Its market capitalization currently lags far behind that of Nvidia. Since I included the stocks on this list, I obviously expect this to change. Why?
For starters, Alphabet’s Google DeepMind competes with OpenAI. I think the two leaders will remain neck and neck in advancing AI in the coming years. While some see AI as an existential threat to Google Search, I predict Alphabet will be successful in combining search with generative AI. The Google Cloud business should also benefit from new sources of AI chips, just as Microsoft will.
I like the prospects for Alphabet’s Waymo self-driving car unit. By 2034, Waymo could be a major growth driver for the company, thanks to the increasing adoption of robotaxis.
Alphabet could also make major breakthroughs in quantum computing over the next decade. Google Quantum Computing believes it can achieve its goal of developing a “useful, error-corrected quantum computer” within this decade.
This could make Alphabet an even more formidable player in the AI space, due to quantum computers’ ability to process data much faster than traditional computers.
Don’t count Nvidia out of the equation, though
While I predict that Apple, Microsoft, and Alphabet will be bigger than Nvidia in ten years, I wouldn’t discount Nvidia. My assumption is that other chip makers will be in a better position to challenge this in the coming years. However, if the company continues to outpace all its rivals, that may not happen.
I think Apple, Microsoft and Alphabet are great stocks for long-term investors. But so does Nvidia.
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Suzanne Frey, a director at Alphabet, is a member of The Motley Fool’s board of directors. Keith Speights has positions at Alphabet, Apple and Microsoft. The Motley Fool holds positions in and recommends Alphabet, Apple, Microsoft and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls to Microsoft and short January 2026 $405 calls to Microsoft. The Motley Fool has a disclosure policy.
Prediction: 3 Stocks That Will Be Worth More Than Nvidia in 10 Years, originally published by The Motley Fool
