Apple (AAPL) has sat on the throne as the world’s largest company for a few years now after overtaking Exxon Mobil (XOM) for good in late 2013. At its peak in mid-2015, Apple’s market cap had ballooned up near $800 billion, while Exxon’s market cap has steadily drifted lower in recent years down to its current level of just $313 billion. While Exxon is no longer Apple’s main competitor at the top of the food chain, another Tech company has quietly started to give the iPhone-maker a run for its money.
Since peaking last year, Apple’s market cap has really taken a hit — closing today at $554 billion. At the same time that Apple’s market cap has been drifting lower,
Google’s Alphabet’s (GOOGL) market cap has been soaring higher. At $505 billion, Alphabet’s market cap is now less than $50 billion away from Apple. With quarterly earnings for both companies coming in the next few weeks, a beat by GOOGL and a miss by AAPL could actually allow GOOGL to surpass AAPL in size.
Below is a list of the 40 largest companies in the S&P 500. For each stock, we show its sector, market cap, change in market cap since the end of 2014, its 2016 year-to-date change, and its current distance from its 50-day moving average.
As shown, three Tech companies now sit at the top of the list (AAPL, GOOGL, MSFT), while Berkshire Hathaway (BRK/B) ranks fourth ahead of Exxon Mobil (XOM) in fifth. Amazon.com (AMZN) and Facebook (FB) rank sixth and seventh ahead of blue chips like Johnson & Johnson (JNJ), General Electric (GE) and Wells Fargo (WFC). Wal-Mart (WMT) used to rank in the top five, but it has moved all the way down to 14th and is nearly $90 billion smaller than e-commerce giant Amazon.com. In 2016, though, Wal-Mart has been the best performing stock on the list with a gain of 3.78%.
Since the end of 2014, the biggest market cap losers on the list have been Apple, Berkshire, Exxon, Procter & Gamble, Wal-Mart, Chevron, and Oracle. IBM is another company that has steadily deflated into what is now just the 31st largest company in the S&P 500 at just $128 billion. At the same time, the biggest market-cap gainers since the end of 2014 have been Alphabet, Amazon.com, Facebook, AT&T, Allergan and Medtronic.