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09 July 2024
S&P 500 2024-Q2 Market Cap $47.83 Trillion

The market capitalization of the S&P 500 (Index: SPX) grew by 4.2% during the course of the second quarter of 2024. The index ended 2024-Q2 with a market cap of $47.83 trillion according to Standard and Poor.

The Top 10 stocks within the market cap-weighted index together accounted for 35.8% of its total valuation. That share is up from the 32.5% recorded at the end of 2024-Q1 and is also up from the 30.9% share that the S&P 500's Top 10 stocks held at the end of 2023.

The biggest market cap gain within the index belongs to artificial intelligence computer chip maker Nvidia (NASDAQ: NVDA), which rose from third to second-place during the preceding three months. That change however is somewhat misleading because for a brief moment about two weeks before the end of the quarter, NVDA became both the largest company within the S&P 500 index and the world. The company lost over $300 billion worth of its market valuation to drop back into second place behind Microsoft (NASDAQ: MSFT).

The following chart shows the relative shares of the top 10 stocks in the S&P 500 at the end of the second quarter of 2024. Other than their ranking, there was no change in the membership of the ten most valuable companies within the index.

S&P 500 Market Capitalization Snapshot on 28 June 2024

Here are the market capitalizations of each of the S&P 500's top ten component firms at the end of Friday, 28 June 2024:

  • Microsoft (NASDAQ: MSFT) $3,465,750,695,214 (7.25%)
  • Nvidia (NASDAQ: NVDA) $3,170,505,200,450 (6.63%)
  • Apple (NASDAQ: AAPL) $3,167,396,346,221 (6.62%)
  • Amazon (NASDAQ: AMZN) $1,846,420,269,779 (3.86%)
  • Meta Platforms (A) (NASDAQ: META) $1,152,810,976,881 (2.41%)
  • Alphabet (A) (NASDAQ: GOOGL) $1,116,269,982,551 (2.33%)
  • Alphabet (C) (NASDAQ: GOOG) $935,143,352,279 (1.96%)
  • Berkshire Hathaway (B) (NYSE: BRK.B) $768,365,279,990 (1.61%)
  • Eli Lilly & Co. (NYSE: LLY) $754,112,379,060 (1.58%)
  • Broadcom (NASDAQ: AVGO) $729,672,001,962 (1.53%)

The remaining 493 firms of the S&P 500 index account for 64.2% of its total market valuation. Their collective market cap declined over the quarter, falling from $30.96 trillion to $30.72 trillion. All the net increase in the market capitalization of the S&P 500 is effectively concentrated within its top ten components.


Standard and Poor. S&P Market Attributes. [Excel Spreadsheet]. 28 June 2024. Accessed 1 July 2024.

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