In other words, this is not the boring Walmart of yesteryear. Meanwhile, the company has committed to $14 billion worth of investment in automation and fulfillment infrastructure that will ultimately support its growing e-commerce business. The Walmart+ subscription service now boasts 32 million members, according to estimates from Deutsche Bank other estimates have that number even higher. For example, the Walmart app is also an in-store price scanning tool. It's morphing into a lifestyle company that melds in-store shopping with the types of technology consumers now prefer to use. However, one should not ignore the evolution underway at Walmart. While it is big, brick-and-mortar retailing is a contracting business model, and Walmart is struggling to handle its own sheer size. Plenty of investors might find this prediction hard to swallow as well. Retailer Walmart has been out of the top 10 since 2014, but don't be surprised to see it break back in by 2035. As good as Apple is, that's a tough industrywide headwind to overcome.Īpple investors just aren't accustomed to this degree of challenge, and while the company's doing well by selling apps and other digital content, there's not enough growth on that front either to keep investors as enthusiastic as they are now. Technology market research outfit IDC believes unit sales of smartphones will grow at less than 3% per year between 20. However, the smartphone market is nearing a point of deep saturation, and its rivals' devices are increasingly competitive. The tech giant has had no problem selling as many of them as it could make. Investors clearly love Apple, and consumers clearly love their iPhones. This is undoubtedly a controversial call.
AppleĪpple is still likely to be a top 10 publicly traded company in 2035, but it's also apt to fall seven places between now and then. It's much easier to remain the top name in an industry than it is to displace the leader. In fact, JPMorgan Chase is currently the nation's single biggest bank, as measured by assets. JPMorgan Chase is a preferred provider, as evidenced by the fact that its operating income essentially doubled over the past 10 years.
The fact is, while the world is changing quickly, the need for financial services isn't going anywhere.
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That's Alibaba's sweet spot.Īlthough it doesn't have as far to climb as Alibaba in order to get there, look for JPMorgan Chase ( JPM 1.28%) to crack the global top 10 by 2035.
The World Bank estimates that more than two-thirds of China's residents will be part of the middle class by 2030, spending $10 trillion a year on goods and services. The world's most populous nation is still growing what will eventually be one of the world's most potent consumer classes. AlibabaĮ-commerce giant Alibaba ( BABA 2.04%) is positioned to crack the world's top 10 despite the recent regulatory crackdown by China's government on its domestic tech leaders.
The biggest surprises are apt to be the names that move further down the list as other companies are better able to flex their expansion muscles. Note that most of these companies are already among the top-20 publicly traded companies worldwide, if not in the top 10 there's not going to be any outrageous or shocking capitalization or appreciation between now and then. With that as the backdrop, in light of evolving cultural, consumer, and corporate preferences as well as current growth rates (and a judgment call on the sustainability of that growth), here's a rundown of the companies I think are likely to sport the world's biggest market caps come 2035.
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