No wonder the top 50 U.S. companies combined the market capitalization of more than $12 trillion. A kind of huge figure of money isn’t it? The global list used to rank public companies that use certain score of revenue, profits, assets and market value. However, they’re dominated by banks and financial service companies. Just six of the top 50 companies in the United States are top level banks.
Citigroup, US Bancorp, and PNC joined JPMorgan. And Bank of America, and Wells Fargo round off the group of top banks. From which all but PNC saw rising profits due in large part to tax cuts. These were set in motion by President Trump in 2017.
Apple, whose rank is third on the U.S. list in 2019, continues as most profitable public company in the world. Thereon pulling in nearly $60 billion last year. Apple is the largest U.S. company with market capitalization, striking about $927 billion in the end of same period. The U.S.’s other tech giants like Microsoft and Alphabet, come in at numbers 8 and 9, respectively. Retail giants Amazon and Walmart are not so far behind as they stand at numbers 13 and 14.
There’s always tough competing ethics that lead to encourage the operations of the top companies. It’s probably the time for Apple to stand on top as currently it’s at third position. If Apple maintains their third position in the ranking then retail giants might be left a bit behind.
Khalid M Raza