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Largest public companies by market capitalization (2000-2022)

The world’s 10 largest public companies have a total market capitalization of nearly 12 trillion dollars As of July 2022.

But two decades ago, the players that made up the list of the largest companies by market capitalization were fundamentally different – and as the years went by, emerging megatrends and market sentiment changed the group several times.

This racing bar chart by Truman Doo It shows how the rankings of the 10 largest public companies changed from 2000 to 2022.

Market value vs. market value

Before we delve into it, it’s worth noting that market value is just one of many metrics that can be used to help value a company.

Simply, a The company’s market value It measures the combined price of a company’s shares outstanding – in other words, the price someone would pay if they wanted to buy the company outright at current stock prices (in theory).

But while market capitalization provides insight into the value of a stock at a particular point in time, Market value More complex and accurate. After all, the price paid may not reflect the actual value of the work. For a measure of value, other measures such as price-to-sales ratio (P/S) of the company, price-to-earnings ratio (P/E) or return on equity (ROE) may be considered.

Largest public companies by market capitalization (2000-2022)

Over the past two decades, investor sentiment has changed with the emergence of different trends, and the types of companies the market has boosted have also changed.

For example, technology and communications companies were big in the early 2000s, as investors were excited about the seemingly endless potential of the newly introduced World Wide Web.

Largest companies by market capitalization (January 1, 2000)

Rank a company Market capitalization (January 1, 2000)
#1 πŸ‡ΊπŸ‡Έ Microsoft 606 billion dollars
# 2 πŸ‡ΊπŸ‡Έ General Electric 508 billion dollars
# 3 πŸ‡―πŸ‡΅ NTT Docomo 367 billion dollars
# 4 πŸ‡ΊπŸ‡Έ Cisco 352 billion dollars
# 5 πŸ‡ΊπŸ‡Έ Wal-Mart 302 billion dollars
#6 πŸ‡ΊπŸ‡Έ intel 280 billion dollars
#7 ^ Nippon Telegraph 271 billion dollars
# 8 Nokia $219 billion
#9 πŸ‡ΊπŸ‡Έ Pfizer 206 billion dollars
# 10 ^ Deutsche Telekom 197 billion dollars

In the middle of the dotcom bubble, investors were pouring money into Internet-related technology startups. With the increasing adoption of the PC and the Internet, investors were hoping to “get in early” before these companies could actually start turning a profit. This excessive feeling was reflected in the market value of public companies at the time, particularly in technology or telecom companies that were seen as profiting from the internet boom.

Of course, the dotcom bubble was not It’s supposed to continueand, by January 2004, the top ten list appeared to be more diverse. At this time, Microsoft lost first place to General Electric, which has a market capitalization of $ 309 billion. Then in the late 2000s, energy companies like ExxonMobil, PetroChina, Gazprom and BP took over the list as oil prices skyrocketed by more than $100 a barrel.

But fast forward to 2022, and we’ve come full circle big technology Once again in the spotlight again.

Largest companies by market capitalization (July 1, 2022)

Rank a company Market capitalization (July 1, 2022)
#1 πŸ‡ΈπŸ‡¦ Saudi Aramco $2.27 trillion
# 2 πŸ‡ΊπŸ‡Έ apple $2.25 trillion
# 3 πŸ‡ΊπŸ‡Έ Microsoft $1.94 trillion
# 4 πŸ‡ΊπŸ‡Έ Alphabet $1.43 trillion
# 5 πŸ‡ΊπŸ‡Έ Amazon 1.11 trillion dollars
#6 πŸ‡ΊπŸ‡Έ Tesla 707 billion dollars
#7 ^ Berkshire Hathaway 612 billion dollars
# 8 πŸ‡ΊπŸ‡Έ United Health Group 485 billion dollars
#9 ^ Johnson & Johnson 472 billion dollars
# 10 ^ Tencent 435 billion dollars

Four of the top five tech companies, and Tencent also topped the list. Meanwhile, Tesla is classified as a car company, but it is believed to be “Internet of cars” Company by many investors.

Big picture trends in the top 10 by market capitalization list

year a description Most important company (market capitalization in US dollars) Top 10 Description
2000 dotcom bubble Microsoft ($606 billion) Many tech/telecom companies are in the mix
2004 Beyond the bubble GE ($309 billion) Diverse mix of companies by industry
2009 financial crisis PetroChina ($367 billion) Six non-US companies are on the list
2014 100 dollars for oil Apple ($560 billion) last year of the oil-dominated list; Technology begins to rise
2022 The era of big technology Aramco ($2270 billion) * Technology accounts for 80% of the top 5 companies

*As of July 1, 2022. Since then, Apple has overtaken Saudi Aramco due to the oil price reversal.

Are you heading down?

Amid rising interest rates, crippling inflation, and political issues such as the ongoing conflict in Ukraine, signs point to the possibility global recession. Tech companies have done well during the COVID-19 pandemic, but they likely won’t be immune to the effects of a generalized economic slowdown.

It will be interesting to see how things turn out in 2023, and which companies (if any) will be able to stay ahead throughout the turmoil.

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