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The Shrinking Trillion Dollar Market Cap Club

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Infographic showing the shrinking trillion dollar market cap club

The Shrinking Trillion Dollar Club

Aggressive tightening from the Federal Reserve has caused tech stocks to plummet back to Earth in 2022, and this has shaken up the membership of the trillion dollar market cap club.

Here are the four current members of this exclusive club:

CompanySectorDate Market Cap Hit $1TMarket Cap (Nov 3, 2022)
Apple (AAPL)TechAug 2, 2018$2.21 trillion
Aramco (2222)EnergyDec 11, 2019$2.01 trillion
Microsoft (MSFT)TechApr 25, 2019$1.60 trillion
Alphabet (GOOGL)TechJan 16, 2020$1.08 trillion

Apple, Microsoft, and Aramco are all still well above the $1 trillion mark for now, but Alphabet’s trajectory could take it out of this list if circumstances don’t change soon. Google has indicated that the decrease in crypto advertising has had a big impact on revenue, and ad budgets continue to be slashed as economic uncertainty continues.

Here are the three former members who have seen their market cap dip back below $1 trillion:

CompanySectorDate Market Cap Hit $1TMarket Cap (Nov 3, 2022)
Amazon (AMZN)Tech/RetailSep 4, 2018$911 billion
Tesla (TSLA)AutomotiveOct 25, 2021$675 billion
Meta (META)TechJun 28, 2021$236 billion

Amazon recently became the latest company to fall below the 10-digit threshold. In response to a poorly received earnings report and forecasts for lighter spending this upcoming holiday season, the ecommerce giant has paused corporate hiring for the foreseeable future.

Though Tesla’s valuation has dipped in recent months, Elon Musk remains bullish on Tesla’s prospects, stating the company could eventually be “worth more than Apple and Saudi Aramco combined”. To his credit, Tesla reported record revenues last month.

Diverging Fortunes

Though Apple is down nearly 20% from its peak, the company has faired better than its tech giant peers. In fact, Apple is now worth as much as Amazon, Meta, and Alphabet combined.

Comparing the market caps of apple vs meta apple amazon

Meta, on the other hand, isn’t just going through tough times, it’s the worst performer in the entire S&P 500 this year so far.

Investors are bearish on Mark Zuckerberg’s expensive leap of faith that is the “metaverse” – a virtual reality world that people access via headsets (e.g. Meta Quest). It’s too early to tell whether Meta is on the forefront of the next digital revolution, or embarking on one of the most expensive tech flops in history.

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Charted: The Jobs Most Impacted by AI

We visualized the results of an analysis by the World Economic Forum, which uncovered the jobs most impacted by AI.

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Charted: The Jobs Most Impacted by AI

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Large language models (LLMs) and other generative AI tools haven’t been around for very long, but they’re expected to have far-reaching impacts on the way people do their jobs. With this in mind, researchers have already begun studying the potential impacts of this transformative technology.

In this graphic, we’ve visualized the results of a World Economic Forum report, which estimated how different job departments will be exposed to AI disruption.

Data and Methodology

To identify the job departments most impacted by AI, researchers assessed over 19,000 occupational tasks (e.g. reading documents) to determine if they relied on language. If a task was deemed language-based, it was then determined how much human involvement was needed to complete that task.

With this analysis, researchers were then able to estimate how AI would impact different occupational groups.

DepartmentLarge impact (%)Small impact (%)No impact (%)
IT73261
Finance70219
Customer Sales671617
Operations651817
HR57412
Marketing56413
Legal46504
Supply Chain431839

In our graphic, large impact refers to tasks that will be fully automated or significantly altered by AI technologies. Small impact refers to tasks that have a lesser potential for disruption.

Where AI will make the biggest impact

Jobs in information technology (IT) and finance have the highest share of tasks expected to be largely impacted by AI.

Within IT, tasks that are expected to be automated include software quality assurance and customer support. On the finance side, researchers believe that AI could be significantly useful for bookkeeping, accounting, and auditing.

Still interested in AI? Check out this graphic which ranked the most commonly used AI tools in 2023.

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