"US Top 10 companies"
The world is changing at a phenomenal pace and nothing illustrates this better than looking at changes in rankings of the world's largest companies. Mind you this is not a global trend, but region specific. Let me tell you more. Stating the obvious, you...
...will not be surprised it is the technology sector that is the key catalyst for change in the world. Technology companies not only dominate our daily lives (how many times have you checked your iPhone today?) but also the ranking of world's biggest companies.
Who do you think the smartest graduates want to work for these days? It's not the investment banks anymore but the T-shirt, sneaker wearing, fast moving internet giants like Amazon, Google/Alphabet and Facebook. These technology giants are achieving world domination by investing heavily in developing new products and services leading to an explosion in innovation and faster growth. As these companies become more dominant, they are disrupting established companies. Think of the impact of Amazon on the retail sector.
These large technology companies which benefit from globalisation, are accessing new markets. Any promising small company that could compete is quickly gobbled up by its larger rival. For example, Facebook acquired upcoming threats WhatsApp and Instagram, while Google has made more than 120 acquisitions in the last 10 years.
Now back to company rankings - here the US-rankings. The US is where we are seeing more rapid changes in its biggest companies than any other region. The table above shows the top 10 US companies today, ranked by market value (market capitalisation).
Exxon the oil giant was the biggest company in 2008 with a market value of USD 492 billion. Interesting to note that Apple, now the world's largest company, was only the 15th largest in the US in 2008. Amazon the current market darling, was only the 82nd biggest company with a market value of USD 36.5 billion.
Fast forward ten years to 2018 and the change in ranking of the top 10 companies in the US is quite dramatic. Apple is
now the largest company in the US. Look at the dominance of technology companies! Now the five biggest companies in the US. Microsoft already held the 3rd place in the year 2008 (so some consistency there).
Can you believe Facebook was only founded in 2004 and is already the 5th largest company in the US?
Who knows what the next ten years will bring but in this fast-changing world if you snooze you may lose...
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