2022 Recap: S&P 500 Top 10 Market Cap Companies' Performance

Tiger Newspress2023-01-04

Last year's steep sell-off on Wall Street punished tech-related heavyweights as investors worried about rising interest rates dumped stocks with high valuations.

Apple, Microsotf, Alphabet and Amazon all fell more than 20%; Exxon Mobil took advantage of the tailwind of oil prices and rose by nearly 90% throughout the year.

Exxon Mobil has enjoyed the most meteoric rise in the S&P 500. The energy giant jumped this year almost like tech stocks did in the boom. Shares of the energy giant soared 87% this year, adding $195 billion in market value.

That surge in market value — more than with any stock in the S&P 500 — makes Exxon Mobil the eighth most valuable stock in the S&P 500. It's remarkable to think that it only ranked 27th most valuable in the S&P 500 a year ago.

It's stunning to see Exxon Mobil coming back so quickly. It wasn't even in the S&P 500's top 10 since 2018 (when it was ninth). But this is a company that was once dominant. It was the very most valuable S&P 500 company as recently as 2011, until Apple surpassed it in 2012.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
6