Monday, October 30, 2017

The Top-Heavy Market

So far in 2017, the five largest companies in the S&P 500 index — all high-tech giants — have added close to a trillion dollars in market capitalization. The remaining 495 stocks have added roughly $2 trillion. This means the five largest stocks have accounted for a third of the 2017 gains in market cap for the entire S&P 500.

Apple remains in the lead as the largest public company in the world by more than $100 billion in market cap, but Google's parent company Alphabet, the second biggest, is now worth $724 billion. That makes it larger than any company not named Apple has ever been.

The third, fourth, and fifth largest companies in the S&P are Microsoft, Amazon and Facebook. Those companies are now all worth more than $500 billion as well.

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