Data calculated and analyzed by Finbold indicates that it took electronic vehicle manufacturer Tesla at least four times less years to amass a higher market capitalization than South Korea’s electronic giant Samsung. By March 23, 2021, Tesla was only 18 years old with a market capitalization of $643.10 billion, which is higher than 83-year old Samsung with a cap of $484.19 billion.
The analysis compares the two companies because they are both in the technology sector and are established leaders in their specific niches. Furthermore, Samsung and Finbold have a similar market capitalization, and they are leading manufactures.
EV euphoria drives Tesla market cap growth
The report singles out some of the factors that led to Tesla’s market capitalization growth with just 18 years in operation. According to the research report:
“Despite being two big players in the tech world, Tesla’s market capitalization has obviously grown at a faster rate to rank higher than Samsung. The rapid surge has been aided by the fact that the company is benefitting from a general euphoria around electronic vehicle stocks, alongside the tightening of emissions regulations globally. The firm has also cemented its position as a key player in the electric vehicle market hence poised for growth.”
The analysis compares the age and market cap of the other eight selected companies. Apple, founded 45 years ago, has the highest market capitalization of $2.07 trillion, followed by 46 years old Microsoft with a market cap of $1.78 trillion.
Amazon, founded 27 years ago, is third with a market cap of $1.56 trillion, followed by 33-year-old Google at $1.37 billion, while 17 years old Facebook has a market cap of $835.9 billion.
Although Tesla has used fewer years to amass a higher market cap than Samsung, both companies differ in profits. For 2020, Tesla reported a profit of $721 million while Samsung recorded about $32.1 billion.
Read the full story with statistics here: https://finbold.com/tesla-samsung-market-cap/