The list of the world’s largest publicly traded companies by market cap has changed tremendously in the past five years. While oil and gas firms dominated the the list five years ago today the growth of digital economy has led to tech firms topping the list. Out of the many oil majors in the top 10 in 2011 only Exxon Mobil(XOM) is in the ranking.
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Source:Change in the Information Age: investment opportunities, Henderson Global Investors, Nov 2, 2016
The plunge in oil prices has crushed oil companies in the past few years. But the rise of social media and hype about technology such as cloud services has propelled the value of tech firms such as Amazon(AMZN), Facebook(FB), Alphabet(GOOG), etc.
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