The overall value of Samsung Electronics is still growing at a rapid pace established over the course of 2017 but isn't enough to maintain the company's position on the list of the world's most valuable companies, BusinessKorea reported Tuesday, citing official data from the Korea Exchange. The Seoul-based tech giant's market cap is now north of $283 billion, having increased 16.8-percent annually, yet Samsung still dropped three spots on the list of the world's most valuable companies and currently occupies the 18th place. As of yesterday, the 100 most valuable companies on the planet boasted a combined worth of $31.52 trillion, 27.5-percent up year-on-year. Apple and Google topped the list for the third year in a row, boasting market caps of $814.4 billion and $774.9 billion, respectively. Likewise, Microsoft is still occupying the third place with a market capitalization of $767 billion.
Amazon is among the handful of companies that have been booming even more than Samsung in recent times, with the Seattle, Washington-based tech giant nearly doubling its market cap over the last 12 months, boasting a value of over $671 billion. In other words, Amazon added the value surpassing the entirety of Samsung's operations and assets over the course of 2017. As was the case in previous years, the United States is still dominating the list of the world's most valuable companies, being listed as the home country of 51 such firms. China has 13 companies in the top 100, whereas Germany and France have six an five, respectively.
Samsung's recent growth is primarily attributed to its semiconductor division that's been enjoying record-breaking performance in recent times, largely due to the soaring global demand for flash memory chips. Not all industry watchers believe the conglomerate is capable of maintaining that momentum going forward, with some speculating that Samsung could become a victim of its own success once the worldwide demand for semiconductors starts declining, leaving the company unable to continue growing at such a pace. That development could see its stock crumble relative to its current performance as a significant portion of its market capitalization is presumed to have been generated by investors expecting its chip division will continue posting historic profits in the long term.