Amazon is now the largest US stock by market cap. Amazingly, since 1926, it’s only the 11th firm to take that and three of the eleven companies only lasted there less than a month.
It leads to some interesting points. We think about these tech giants as being huge juggernauts that can’t be stopped and that their market cap is so big.
Well, at one point, AT&T was 13% of the market cap of the US stocks and IBM and General Motors were both a little bit below that. Amazon is a little less than 3%. It’s really something to think about, because I think about Amazon’s reach, and how pervasive it is. It’s hard to imagine that at one time, Ma Bell was four times that relevance at 13% of the U.S. stock market capitalization.
Another take away is that at some point, someone’s going to take Amazon’s place, whether it’s one of the other big stocks now, or some stock we’ve never heard of. It’s always interesting. I love looking at some of the history of stocks, and the stock market.
My name is Mike Garry, and my company is Yardley Wealth Management. We are a fiduciary, fee-only financial planning, and wealth management firm in Newtown, Pennsylvania. (That’s in Bucks County). If you’d like to talk about this or anything else, please reach out: 267-573-1019, email@example.com or @michaeljgarry
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