It was ten years ago today that the tech bubble burst and the Nasdaq hit its all-time peak. But even though the index is trading at less than half the level it was then, many of the largest US companies are still from that sector. Of the twenty largest companies in the US, seven come from the Technology sector.
Ironically enough, Financials, which were left for dead a year ago, are the second most heavily represented sector in the top twenty. While Microsoft (NASDAQ:MSFT) is still the largest Technology stock and the second largest S&P 500 company overall, its biggest competitors are catching up. Google (NASDAQ:GOOG), which wasn't even a public company when the Nasdaq peaked, is the sixth largest company in the United States. Apple (NASDAQ:AAPL) was a public company back in 2000, but at the time it was practically on life support. Today, AAPL is the fourth largest company in the S&P 500, and its market cap of $203.5 billion is greater than Berkshire Hathaway (NYSE:BRK.B) and nearly equal to that of Wal-Mart (NYSE:WMT).