Apple’s market capitalization briefly hit $3 trillion on the first trading day of 2022 kicking off the new year with a bang. But since then, tech stocks have gotten clobbered as investors shed pricier growth names in favor of energy and financial stocks. Nevertheless, King Apple still towers over its megacap peers and is larger than the bottom 180 stocks in the S&P 500.
According to Yahoo Finance data, Apple (AAPL) is now bigger than Tesla (TSLA), Meta Platforms (FB) and Berkshire Hathaway (BRK-A, BRK-B) combined. It’s also bigger than a combined JPMorgan (JPM), Johnson & Johnson (JNJ), Visa (V), UnitedHealth (UNH), Home Depot (HD) and Bank of America (BAC). Heading down the list of S&P 500 stocks sorted by market cap, Apple is slightly less than 13 stocks starting with Nike (NKE) and finishing with McDonald’s (MCD).
Breaking down the top 50 names by sector (according to the Global Industry Classification Standard), tech is most heavily represented with 14 companies. Besides Apple, Microsoft (MSFT), Nvdia (NVDA), Visa and 10 others add $8.6 trillion in market cap to the sector. (Visa, Mastercard (MA), Paypal (PYPL) and other payment companies may be transferring to the financial sector this year.)
Communication Services is the second biggest at $3.8 trillion. That’s due to a number of large, seemingly unrelated names in the sector, including, Facebook, Alphabet (GOOGL, GOOG), Netflix (NFLX), Disney (DIS) and Verizon (VZ). Consumer Discretionary is third at $3.4 trillion thanks to Amazon, Tesla, Home Depot and others. While health care giants J&J, UnitedHealth and Pfizer (PFE) put that sector fourth at $2.6 trillion.
Berkshire Hathaway and JPMorgan help the financial sector list $2.2 trillion in market cap. And big box retailers Walmart (WMT) and Costco (COST) join Procter & Gamble (PG) to power the consumer staples sector to $1.5 trillion.
There were no companies represented by utilities or real estate. The Energy sector sports two names — ExxonMobil (XOM) and Chevron (CVX) for a $530 billion total. Only United Parcel Service (UPS) made it from industrials, and only Linde (LIN) from materials. Those sectors have $185 billion and $170 billion worth of companies, respectively, from the top 50.
Jared Blikre is an anchor and reporter focused on the markets on Yahoo Finance Live. Follow him @SPYJared. Devan Burris is a producer for Yahoo Finance Live.