Microsoft Corporation (NASDAQ: MSFT), Tesla Motors, Inc. (NASDAQ: TSLA) – Top 10 companies by market capitalization at the time (2001) and now have only Microsoft in common; Here is Elon Musk’s point of view

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The list of the world’s most valuable companies has remained vibrant over the years. Manufacturing companies, which once dominated the list, are now barely found, giving way to virtually all software and service companies. Benzinga examined these changing dynamics by comparing the list of top-valued companies in 2001 and two decades later in 2021.

The GE conglomerate led the pack in 2001: Conglomerate General Electricity Company (NYSE: GE) was the most valued company in 2001, and rightly so, because it was once considered the barometer of the US economy, given the diversity of companies under its umbrella. The company’s reactive approach to emerging opportunities is seen as the main reason among the many factors for its downfall. The company is no longer part of the prestigious Dow Jones Industrial Average.

Some technological names, major pharma Pfizer, Inc. (NYSE: PFE), retail giant Walmart inc. (NYSE: WMT) were among other companies that made the Top 10 list in 2001.

Related Link: Why Apple Will Achieve $ 3 Trillion Market Cap By End of 2021

A different era and radically different companies dominate in 2021: Tech companies made up the majority of the top 10 companies in 2021. With the exception of Saudi Aramco and Berkshire Hathaway Inc. (NYSE: BRK-A), all other companies were in the tech industry.

tech giant Apple Inc. (NASDAQ: AAPL), with a market cap of $ 2,478 billion, is currently the most valued company, followed by the software giant Microsoft, Inc. (NASDAQ: MSFT). Incidentally, Microsoft is the only company that is on both lists.

Musk finds it interesting: Tesla, Inc. (NASDAQ: TSLA) Founder and CEO Elon musk considers the changing dynamics to be “interesting”. His reaction came in a response to a tweet that highlighted the change over the two-decade period.

One of the interesting responses to the original tweet was that if space travel is commercialized, Musk’s SpaceX will be over ten years ahead of other companies and Tesla will no longer be on the list.

Related Link: 2 Tech Stocks To Play Right Now (& 1 To Avoid)

Photo: Courtesy of Pixabay

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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