We were looking through charts today and noticed that Exxon Mobil (XOM) is completely breaking down. The drop has taken XOM’s market cap down to $328 billion, which ranks it as the 8th largest stock in the S&P 500. Below is a look at the 45 largest stocks in the index. These are the only stocks in the index with market caps above $100 billion as well.
Ten years ago, XOM was by far the largest stock in the world. Since then it has been overtaken by Apple (AAPL), Alphabet (GOOGL), Microsoft (MSFT), Facebook (FB), Amazon.com (AMZN), Berkshire (BRK/B), and Johnson & Johnson (JNJ). Even JP Morgan is creeping up on Exxon — it’s just $4 billion away.
The other company that has been lapped over the last ten years is General Electric (GE). Ten years ago it was the second largest stock in the S&P 500, but now it ranks 16th behind companies like Visa (V) and AT&T (T). A little bit more of a drop and Oracle will be larger than GE as well.
The point of this exercise is not so much to beat up on XOM and GE, but to try and help you recognize how much things can change in a ten-year span. A good number of the companies on this list had market caps of less than $50 billion back in August 2007, and now they’re mega-cap behemoths. Heck, Facebook (FB) wasn’t even public ten years ago, and now it’s the fourth largest company in the US.
While some of these companies will still be at or near the top of the list ten years from now, we can guarantee you that not all of them will. Instead, they’ll be replaced by the next Facebook, Amazon, or Apple. Anyone have a crystal ball we can borrow?
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