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In a reshuffling of the pecking order in big tech, Alphabet has inched past
com to become the third-largest U.S.-traded public company by market capitalization.
(ticker: AAPL) remains the most valued U.S.-traded company, at $2.1 trillion, with
(MSFT) second on the list at $1.9 trillion. On Friday, Alphabet (GOOGL) inched up 2% to $1.623 trillion, a smidgen ahead of Amazon (AMZN) at $1.617 billion. The valuation gap between the two companies has been narrowing throughout the course of the year. While Amazon is down 2% for the year to date, Alphabet shares have rallied 37%.
The divergence reflects the market’s shift away from companies viewed as having substantially benefited from the pandemic, such as Amazon and other e-commerce players, and toward stocks that should benefit from the reopening of the economy. Alphabet is benefiting from an overall rebound in advertising spending, and in particular a recovery in ad spending related to the travel sector.
There are currently 12 companies trading in the U.S. with market caps above $500 billion, and the list is dominated by the tech sector. Here are the names:
- Apple: $2.101 trillion
- Microsoft: $1.889 trillion
- Alphabet: $1.623 trillion
- Amazon: $1.617 trillion
- Facebook (FB): $936.7 billion
- Tencent (TECHNY): $773.2 billion
- Berkshire Hathaway (BRKA): $668.6 billion
- Alibaba (BABA): $594.9 billion
- Tesla (TSLA): $577.1 billion
- Taiwan Semiconductor (TSM): $573.1 billion
- Visa (V): $506.3 billion
- JPMorgan Chase (JPM): $504.1 billion
Write to Eric J. Savitz at eric.savitz@barrons.com
