If you look at Dimensional’s Matrix Book’s “World Equity Market Capitalization,” which lists the market capitalization of most of the world, country by country, you’ll find a fun fact that’s may be startling to some: Apple alone is bigger than almost any stock market in the world.
Dimensional’s Matrix Book is an annual review of global returns that highlight the power of compound investing.
Buried on page 74 is a chapter on “World Equity Market Capitalization,” listing the market capitalization of most of the world, country by country. No surprise, the U.S. is the global leader in stock market value. The $40 trillion in stock market wealth in the U.S. is almost 60% of the value of all the equities in the world.
Global market capitalization, by country
(in trillions, with % of global share)1. U.S. – $40 trillion (59%)
2. Japan – $4.1t (6%)
3. U.K. – $2.6t (4%)
4. China – $2.5t (4%)
5. Canada – $2.1t (3%)Here’s where it gets fun. My friend Ben Carlson pointed out that Apple’s current market capitalization of about $2.7 trillion this week exceeds the entire market capitalization of the United Kingdom, the third biggest stock market in the world… Apple is bigger than the entire U.K. stock market? Twice as big as all of Germany? That is amazing.
MacDailyNews Take: And, no less, Apple is currently down, after having become the first company to hit a $3 trillion market value back inn January 2022 (a figure it will see again, and significantly surpass).
Even near an all-time high, the case can be made convincingly that Apple is woefully undervalued.
We’re not sure that most analysts or investors can really wrap their minds around the vast amounts of money that the machine that Steve Jobs built has generated, is generating, and is capable of generating going forward. — MacDailyNews, May 3, 2018 (on which day, Apple closed at $42.47 (price adjusted for splits)).
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[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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