But if they pop: There are only so many trillions that can vanish from portfolios before it triggers a recession.
Trillions of dollars fly by so fast they’re hard to see. By now, 11 US companies have a market value of $1 trillion or more. Combined, they have a market cap of $29 trillion.
Walmart [WMT] was already in the $1 trillion club for a few weeks, if barely, but recently fell off the wagon. If we add Walmart back into it, the 12 US companies have a market cap of $30 trillion – roughly 43% of the total market capitalization of all S&P 500 stocks.
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During that little dip from January 28 to March 6 this year, the combined market value of these 12 companies dropped by $1.8 trillion. Over the 58 trading days since then, their combined value jumped by $4.9 trillion. Over the past six years, market value exploded from $6 trillion to $30 trillion. These are generational gains (data viaYCharts):
Micron Technology [MU] became the latest entry into that club. Since the low of April 3, 2025, the stock exploded by 1,315%, and its market capitalization exploded from $72 billion to just over $1 trillion. And it did the second half of that trip, from $500 billion to $1 trillion in just 48 trading days, an all-time record — creating anotherWTF AI Mania Chart.
The 11 US companies in the Trillion Dollar Club:
Eli Lilly is threatening to fall off the wagon. It wouldn’t take much for Micron to fall off the wagon either – just a minor day-to-day squiggle would do it. These are volatile stocks at this point.
$30 trillion used to be a huge amount. Not long ago – only four years ago exactly – the entire debt of the US government was $30 trillion. Of course, four years later, it’s $39 trillion. And not because it gained in value, or anything.
Source: SGT Report
