Top 10 S&P 500 companies by market cap (2014 - 2024)¶
The landscape of the S&P 500 index, a leading indicator of U.S. equities and a barometer for the economy, has witnessed significant shifts in market capitalization from 2013 to 2023. We have watched as companies within this index have risen and fallen in response to various economic pressures, technological advancements, and shifts in consumer habits. Market cap, or market capitalization, represents the total value of a company's outstanding shares of stock. It serves as a straightforward metric for gauging a company's size and market influence. Over the past decade, we've seen a dynamic and sometimes surprising evolution of which companies hold the largest market caps within the S&P 500.
As we focus specifically on the top echelon of S&P 500 companies, we observe an elite group of constituents that have not just endured but often thrived amidst the market's fluctuations. These companies, through innovation, strategic leadership, and sometimes just sheer scale, have established their dominance in their respective industries. Their ability to harness growth has had a notable impact on investors, sector performance, and overall market trends. Reflecting on their ten-year trajectories provides us with insights into the broader economic movements in the United States and outlines the financial landscape that investors have navigated.
Understanding the shifts in the top S&P 500 companies by market cap offers us valuable lessons on market dynamics and the factors driving growth in the modern economy. We recognize that analyzing the performance and strategies of these leading companies allows us to glean patterns and forecasts about the health of the market and potential future trends. As we discuss the top 10 S&P 500 companies by market cap from 2013 to 2023, we aim to provide a clear and detailed snapshot of the changing faces of corporate America's giants.
Top 10 S&P 500 companies by market cap in 2024¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $185.64 | $2,895,878M | Apple Inc |
| MSFT | $370.87 | $2,764,904M | Microsoft Corp |
| GOOGL | $138.17 | $1,738,316M | Alphabet Inc Class A |
| AMZN | $149.93 | $1,547,577M | Amazon.com Inc |
| NVDA | $481.68 | $1,188,786M | NVIDIA Corp |
| META | $346.29 | $913,685M | Meta Platforms Inc Class A |
| TSLA | $248.42 | $788,981M | Tesla Inc |
| BRK.B | $362.46 | $786,678M | Berkshire Hathaway Inc Class B |
| JPM | $172.08 | $578,374M | JPMorgan Chase & Co |
| V | $258.87 | $533,819M | Visa Inc Class A |
As of the end of the first trading day in 2024
Top 10 S&P 500 companies by market cap in 2023¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $125.07 | $1,987,702M | Apple Inc |
| MSFT | $239.58 | $1,788,682M | Microsoft Corp |
| AMZN | $85.82 | $1,226,062M | Amazon.com Inc |
| GOOGL | $89.12 | $1,149,380M | Alphabet Inc Class A |
| BRK.B | $309.91 | $680,265M | Berkshire Hathaway Inc Class B |
| UNH | $518.64 | $484,409M | UnitedHealth Group Inc |
| JNJ | $178.19 | $468,265M | Johnson & Johnson |
| XOM | $106.51 | $439,483M | Exxon Mobil Corp |
| V | $207.39 | $428,214M | Visa Inc Class A |
| JPM | $135.12 | $400,347M | JPMorgan Chase & Co |
As of the end of the first trading day in 2023
Top 10 S&P 500 companies by market cap in 2022¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $182.01 | $2,983,457M | Apple Inc |
| MSFT | $334.75 | $2,532,896M | Microsoft Corp |
| GOOGL | $144.99 | $1,921,609M | Alphabet Inc Class A |
| AMZN | $170.40 | $1,757,950M | Amazon.com Inc |
| TSLA | $399.93 | $1,217,775M | Tesla Inc |
| META | $338.54 | $946,922M | Meta Platforms Inc Class A |
| NVDA | $301.21 | $752,723M | NVIDIA Corp |
| BRK.B | $300.79 | $670,091M | Berkshire Hathaway Inc Class B |
| JPM | $161.70 | $482,140M | JPMorgan Chase & Co |
| UNH | $502.28 | $472,645M | UnitedHealth Group Inc |
As of the end of the first trading day in 2022
Top 10 S&P 500 companies by market cap in 2021¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $129.41 | $2,191,573M | Apple Inc |
| MSFT | $217.69 | $1,658,197M | Microsoft Corp |
| AMZN | $159.33 | $1,634,329M | Amazon.com Inc |
| GOOGL | $86.31 | $1,166,141M | Alphabet Inc Class A |
| META | $268.94 | $778,023M | Meta Platforms Inc Class A |
| TSLA | $243.26 | $694,010M | Tesla Inc |
| BRK.B | $228.45 | $533,460M | Berkshire Hathaway Inc Class B |
| V | $217.76 | $465,585M | Visa Inc Class A |
| WMT | $146.53 | $415,119M | Walmart Inc |
| JNJ | $156.50 | $411,986M | Johnson & Johnson |
As of the end of the first trading day in 2021
Top 10 S&P 500 companies by market cap in 2020¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $75.09 | $1,326,057M | Apple Inc |
| MSFT | $160.62 | $1,239,114M | Microsoft Corp |
| AMZN | $94.90 | $954,275M | Amazon.com Inc |
| GOOGL | $68.43 | $942,754M | Alphabet Inc Class A |
| META | $209.78 | $600,853M | Meta Platforms Inc Class A |
| BRK.B | $228.39 | $557,753M | Berkshire Hathaway Inc Class B |
| JPM | $141.09 | $444,981M | JPMorgan Chase & Co |
| V | $191.12 | $412,669M | Visa Inc Class A |
| JNJ | $145.97 | $384,267M | Johnson & Johnson |
| WMT | $118.94 | $338,146M | Walmart Inc |
As of the end of the first trading day in 2020
Top 10 S&P 500 companies by market cap in 2019¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| MSFT | $101.12 | $788,361M | Microsoft Corp |
| AMZN | $76.96 | $772,892M | Amazon.com Inc |
| AAPL | $39.48 | $747,880M | Apple Inc |
| GOOGL | $52.73 | $733,276M | Alphabet Inc Class A |
| BRK.B | $202.80 | $499,381M | Berkshire Hathaway Inc Class B |
| META | $135.68 | $391,572M | Meta Platforms Inc Class A |
| JNJ | $127.75 | $347,991M | Johnson & Johnson |
| JPM | $99.31 | $331,278M | JPMorgan Chase & Co |
| XOM | $69.69 | $296,553M | Exxon Mobil Corp |
| V | $132.92 | $293,779M | Visa Inc Class A |
As of the end of the first trading day in 2019
Top 10 S&P 500 companies by market cap in 2018¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $43.06 | $880,744M | Apple Inc |
| GOOGL | $53.66 | $745,078M | Alphabet Inc Class A |
| MSFT | $85.95 | $660,557M | Microsoft Corp |
| AMZN | $59.45 | $590,047M | Amazon.com Inc |
| META | $181.42 | $535,789M | Meta Platforms Inc Class A |
| BRK.B | $197.22 | $486,580M | Berkshire Hathaway Inc Class B |
| JPM | $107.95 | $377,915M | JPMorgan Chase & Co |
| JNJ | $139.23 | $373,818M | Johnson & Johnson |
| XOM | $85.03 | $363,078M | Exxon Mobil Corp |
| BAC | $29.90 | $313,073M | Bank of America Corp |
As of the end of the first trading day in 2018
Top 10 S&P 500 companies by market cap in 2017¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $29.04 | $615,439M | Apple Inc |
| GOOGL | $40.40 | $557,453M | Alphabet Inc Class A |
| MSFT | $62.58 | $490,236M | Microsoft Corp |
| BRK.B | $163.83 | $404,042M | Berkshire Hathaway Inc Class B |
| XOM | $90.89 | $372,427M | Exxon Mobil Corp |
| AMZN | $37.68 | $366,424M | Amazon.com Inc |
| META | $116.86 | $342,469M | Meta Platforms Inc Class A |
| JNJ | $115.84 | $315,384M | Johnson & Johnson |
| JPM | $87.23 | $314,806M | JPMorgan Chase & Co |
| WFC | $56.00 | $281,433M | Wells Fargo & Co |
As of the end of the first trading day in 2017
Top 10 S&P 500 companies by market cap in 2016¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $26.34 | $585,633M | Apple Inc |
| GOOGL | $37.97 | $522,167M | Alphabet Inc Class A |
| MSFT | $54.80 | $443,526M | Microsoft Corp |
| BRK.B | $130.75 | $322,307M | Berkshire Hathaway Inc Class B |
| XOM | $77.46 | $321,401M | Exxon Mobil Corp |
| AMZN | $31.85 | $306,391M | Amazon.com Inc |
| META | $102.22 | $292,870M | Meta Platforms Inc Class A |
| JNJ | $100.48 | $278,056M | Johnson & Johnson |
| WFC | $52.91 | $270,290M | Wells Fargo & Co |
| JPM | $63.62 | $236,878M | JPMorgan Chase & Co |
As of the end of the first trading day in 2016
Top 10 S&P 500 companies by market cap in 2015¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $27.33 | $638,824M | Apple Inc |
| XOM | $92.83 | $390,957M | Exxon Mobil Corp |
| MSFT | $46.76 | $386,132M | Microsoft Corp |
| BRK.B | $149.17 | $367,596M | Berkshire Hathaway Inc Class B |
| GOOGL | $26.48 | $359,534M | Alphabet Inc Class A |
| JNJ | $104.52 | $290,902M | Johnson & Johnson |
| WFC | $54.70 | $284,029M | Wells Fargo & Co |
| WMT | $85.90 | $277,371M | Walmart Inc |
| PG | $90.44 | $252,380M | Procter & Gamble Co |
| JPM | $62.49 | $234,045M | JPMorgan Chase & Co |
As of the end of the first trading day in 2015
Top 10 S&P 500 companies by market cap in 2014¶
| Ticker | Price | Market Cap (Millions) | Security Name |
|---|---|---|---|
| AAPL | $19.75 | $495,643M | Apple Inc |
| XOM | $99.75 | $436,079M | Exxon Mobil Corp |
| GOOGL | $27.85 | $370,856M | Alphabet Inc Class A |
| MSFT | $37.16 | $312,429M | Microsoft Corp |
| BRK.B | $117.50 | $289,734M | Berkshire Hathaway Inc Class B |
| WMT | $78.91 | $257,009M | Walmart Inc |
| JNJ | $91.03 | $256,761M | Johnson & Johnson |
| WFC | $45.02 | $237,268M | Wells Fargo & Co |
| CVX | $124.14 | $236,353M | Chevron Corp |
| JPM | $58.21 | $220,847M | JPMorgan Chase & Co |
As of the end of the first trading day in 2014
Evolution of the S&P 500 Over the Decade¶
In the last decade, the S&P 500 index has witnessed significant reshuffling in its constituents, reflecting the changing landscape of the U.S. economy. Our focus will be on how market capitalization shifts and economic changes have influenced the index.
Key Milestones and Changes¶
Over the past ten years, we have observed a dynamic evolution in the S&P 500's composition. Technology has become increasingly dominant in terms of market cap, with giants such as Apple and Microsoft leading the pack. This sector has shown resilient performance, significantly influencing the overall benchmark.
The healthcare sector also reinforced its presence among the top companies, accentuating its growth potential. In contrast, traditional sectors like materials, energy, and utilities have seen less representation at the top due to various market and geopolitical factors hampering their growth.
Real estate and consumer discretionary sectors have experienced volatility but have managed to sustain their representation. Existing constituents were challenged by emergent businesses, reflecting a shift towards companies that leverage technology and innovation.
Impact of Economic Shifts¶
The past decade was marked by economic events that influenced the S&P 500. The index reflects the performance of the largest publically traded companies in the United States and serves as a barometer for the economy. During periods of economic growth, sectors such as consumer discretionary and industrials tend to perform well, showing an increase in consumer spending and industrial activity.
However, economic downturns often see a rise in the consumer staples and utilities sectors, which are considered more defensive. The financials sector has faced both regulatory changes and varying interest rates, impacting its performance and, consequently, its weight in the index.
Communication services is a sector that emerged more prominently in the latter part of the decade, as the way we communicate and consume media transformed. Companies in this sector reshaped the S&P 500, contributing to its development as a current benchmark for U.S. equities.
Company Profiles¶
In this section, we delve into the substantial growth and influence of the top S&P 500 companies over the past decade, revealing how their market capitalizations reflect their sectors' dynamism and the changing landscape of the global economy.
Apple Inc and Technological Dominance¶
Apple Inc. has remained a top contender in the S&P 500, reflecting a consistent growth in market cap driven by innovation and brand loyalty. As a pioneer in consumer technology, this NASDAQ-listed titan has not only revolutionized personal computing, portable devices, and digital services but has also set benchmarks for the tech industry.
Healthcare Giants: UnitedHealth and Pfizer¶
Within the healthcare sector, UnitedHealth Group and Pfizer stand out on the New York Stock Exchange for their substantial market caps. UnitedHealth, with its diverse array of health care products and insurance services, has responded to the evolving demands of healthcare management. Pfizer, bolstered by groundbreaking pharmaceutical advancements, has seen significant valuation increases, especially in the wake of its COVID-19 vaccine development.
Energy Sector Leaders: Exxon Mobil and Chevron¶
Turning to the energy sector, Exxon Mobil Corp and Chevron Corp dominate as leading S&P 500 companies. Their vast market caps signify not only their role in the United States energy supply but also their navigation through the volatile oil markets and gradual investments in alternative and renewable energy sources.
Consumer Behemoths: Amazon and Walmart¶
On the consumer front, Amazon and Walmart Inc. showcase the might of consumer staples and e-commerce. Amazon's ascent on the NASDAQ has been marked by its expansion into cloud computing and multimedia streaming, while Walmart continues to leverage its huge physical and growing online presence to maintain its position as a retail giant.
Market Capitalization and Sector Performance¶
We observe that market capitalization, or market cap, has been a pivotal measure of company value within the S&P 500 index. Over the past decade, sectors such as technology and healthcare have shown significant growth in market cap, while traditionally defensive sectors like utilities and materials have experienced more modest increases.
Top Performers by Market Cap¶
The technology sector has consistently led the S&P 500 in terms of market cap growth. Below is a list highlighting companies that have remained at the forefront:
- Apple Inc.
- Microsoft Corporation
- These corporations, along with others like Amazon.com Inc. from the consumer discretionary sector, and Google’s parent company Alphabet Inc., now part of communication services, have dominated the top ranks in the S&P 500 by market cap.
The financials sector, represented by companies such as JPMorgan Chase & Co., also retains substantial presence within the top market cap rankings, signaling the enduring importance of this sector to the overall health of the market.
Comparative Sector Growth¶
When we compare sector performance, technology consistently shows robust growth over the last decade, largely driven by innovation and the increasing reliance on digital solutions across all aspects of life. In contrast, sectors like utilities and materials, while stable, have not seen the same level of exponential market cap expansion.
Energy sector performance has varied with market conditions and geopolitical events, leading to both peaks and troughs in market cap over the years. The healthcare sector has experienced steady growth, with companies such as Johnson & Johnson reflecting the growing demand for healthcare products and services.
In reviewing the financials sector, it's evident that firms have rebounded significantly from the economic difficulties of the early 2020s, with companies like Berkshire Hathaway demonstrating the sector's resilience and adaptability.
NYSE and NASDAQ are the primary exchanges for these leading stocks, and their performance is a testament to the dynamic nature of the S&P 500, which continually evolves with the changing economic landscape.