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Ranked: America’s Largest Semiconductor Companies

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Ranked: America’s Largest Semiconductor Companies

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Ranking America’s Largest Semiconductor Companies

As our world moves further into an era of widespread digitization, few industries can be considered as important as semiconductors.

These components are found in almost everything we use on a daily basis, and the ability to produce them domestically has become a topic of national security. For example, in 2022 the Biden administration announced the CHIPS and Science Act, which aims to strengthen America’s position in everything from clean energy to artificial intelligence.

With this in mind, we’ve ranked the top 15 U.S. semiconductor companies by their market capitalizations.

Data and Highlights

The data we used to create this infographic is listed in the table below. Year-to-date (YTD) returns were included for additional context. Both metrics are as of May 30, 2023.

RankCompanyTickerMarket Cap (USD billions)YTD Return
1NvidiaNVDA$992180.2%
2BroadcomAVGO$33545.1%
3AMDAMD$20295.7%
4Texas InstrumentsTXN$1608.2%
5QualcommQCOM$1298.2%
6IntelINTC$12512.2%
7Applied MaterialsAMAT$11541.2%
8Analog DevicesADI$899.2%
9Lam ResearchLRCX$8552.1%
10Micron TechnologyMU$7842.3%
11SnyopsysSNPS$7145.4%
12KLAKLAC$6321.8%
13Marvell Technology GroupMRVL$5476.2%
14Microchip TechnologyMCHP$4211.2%
15ON SemiconductorON$3636.3%

At the top is Nvidia, which became America’s newest $1 trillion company on Tuesday, May 30th. Shares pulled back slightly over the day and Nvidia closed at $992 billion. Over the past decade, Nvidia has transformed from a gaming-focused graphics card producer to a global leader in AI and data center chips.

In third and sixth place are two of America’s most well known chipmakers, AMD and Intel. These longtime rivals are moving in opposite trajectories, with AMD shares climbing 770% over the past five years, and Intel shares falling 47%. One reason for this is the data center segment, in which AMD appears to be stealing market share from Intel.

Further down the list we see Applied Materials in seventh, and Lam Research in ninth. Both firms specialize in semiconductor manufacturing equipment and thus play an important role in the industry’s supply chain.

Trade War Impacts

As tensions between the U.S. and China escalate, chipmakers are becoming increasingly entangled in geopolitical conflict.

In October 2022, the Biden administration introduced new export controls aimed at blocking China’s access to semiconductors produced with U.S. equipment. This impacted several companies in our top 15 list, including Lam Research and Applied Materials.

Shortly after the export controls were announced, Lam Research said it expected to lose upwards of $2.5 billion in annual revenues.

We lost some very profitable customers in the China region, and that’s going to persist, obviously.
– Doug Bettinger, CFO, Lam Research

In response, China announced in May 2023 that it would no longer allow America’s largest memory chipmaker, Micron, to sell its products to “critical national infrastructure operators”.

This is not the first time Micron has been involved in a controversy with China. In 2018, the firm alleged that Fujian Jinhua Integrated Circuit, a Chinese state-owned company, had solicited a Micron employee to steal specifications for memory chips. The U.S. Department of Commerce imposed export restrictions on Fujian Jinhua as a result.

Chipmakers on both sides of the Pacific will be closely watching as competition between these two countries heats up.

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Ranked: 15 of the World’s Least Affordable Housing Markets

This map examines middle-income housing market affordability across eight major countries, highlighting some of the least affordable cities.

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Mapping housing market affordability and some of the least affordable cities

Ranked: 15 of the World’s Least Affordable Housing Markets

When considering where to live, big cities are attractive to people for a number of reasons, but affordability is usually not one of them.

This map, using data from Demographia, highlights the major cities ranked the worst for housing market affordability on a global basis.

Unaffordable Housing Markets

Demographia’s report looks at middle-income housing affordability in 94 cities in eight countries, many of which are known for having pricy housing markets:

  • 🇦🇺 Australia
  • 🇨🇦 Canada
  • 🇨🇳 China (Hong Kong)
  • 🇮🇪 Ireland
  • 🇳🇿 New Zealand
  • 🇸🇬 Singapore
  • 🇬🇧 United Kingdom
  • 🇺🇸 United States

For the 2023 report, it uses 2022 Q3 prices and income levels for evaluation, dividing the median house price by the gross median household income to find the median multiple for housing.

And for the first time in the history of Demographia’s reporting, not a single of the 94 cities scored below 3.0, the cutoff to be deemed “affordable.” Here’s a closer look at the least affordable markets in 2023:

RankCityHousing Median Multiple
1🇭🇰 Hong Kong18.8
2🇦🇺 Sydney13.3
3🇨🇦 Vancouver12.0
4🇺🇸 Honolulu11.8
5🇺🇸 San Jose11.5
6🇺🇸 Los Angeles11.3
7🇳🇿 Auckland10.8
8🇺🇸 San Francisco10.7
9🇦🇺 Melbourne9.9
10🇨🇦 Toronto9.5
11🇺🇸 San Diego9.4
12🇬🇧 London8.7
13🇺🇸 Miami8.5
14🇦🇺 Adelaide8.2
15🇬🇧 Bournemouth & Dorset8.0

For well over a decade now, Hong Kong has taken the top spot as the least affordable market globally. The only city to become even less affordable year over year was Los Angeles.

On the flip side, the most affordable city in the U.S. was Pittsburgh, with the median multiple sitting at 3.1. As people start to get priced out of certain markets, they may start to move to these more affordable cities.

Zooming out farther, here are the housing market affordability scores for all eight jurisdictions covered in this report:

Country / JurisdictionHousing Median Multiple
🇭🇰 Hong Kong18.8
🇳🇿 New Zealand10.8
🇦🇺 Australia8.2
🇨🇦 Canada5.3
🇸🇬 Singapore5.3
🇬🇧 UK5.3
🇮🇪 Ireland5.1
🇺🇸 U.S.5.0

Again, none of these countries are considered affordable, but within each there is a wide range of scores. Hong Kong is significantly less affordable than the second-place New Zealand and third-place Australia.

Scores across Canada, Singapore, the UK, Ireland and the U.S., however, are quite similar.

Better Cities for Housing Market Affordability

While many people flock to big cities, evidenced by the fact that many of the least affordable places are also among the most populous, others are opting to live somewhere more in their price range.

Here’s a glance at some of the most affordable housing markets worldwide:

RankCityHousing Median Multiple
1🇺🇸 Pittsburgh, PA3.1
2🇺🇸 Rochester, NY3.2
3🇺🇸 Cleveland, OH3.5
3🇺🇸 St. Louis, MO-IL3.5
5🇺🇸 Cincinnati, OH-KY-IN3.6
5🇺🇸 Oklahoma City, OK3.6
7🇺🇸 Buffalo, NY3.7
8🇺🇸 Detroit, MI3.8
9🇺🇸 Louisville, KY-IN3.9
9🇺🇸 Tusla, OK3.9
11🇨🇦 Edmonton, AB4.0
11🇺🇸 Hartford, CT4.0
11🇺🇸 Kansas City, MO-KS4.0
14🇺🇸 Columbus, OH4.1
14🇺🇸 Grand Rapid, MI4.1
14🇺🇸 Indianapolis, IN4.1
14🇺🇸 Minneapolis-St. Paul, MN-WI4.1
14🇺🇸 Philadelphia, PA-NJ-DE-MD4.1

All of the top 18 most affordable cities covered in the report are located in North America.

While big, global cities will certainly continue to attract talent and residents from all over, the more affordable cities may gain new residents for more practical financial reasons.

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