From Nasdaq: 2024-04-08 09:17:00

In a shift on Wall Street, Exxon, General Motors, and Mobil have slipped in market cap rankings since 1984. Upstart companies with innovative products and visionary leaders are challenging established giants, highlighting the ever-changing landscape of the market.

Meta Platforms (NASDAQ: META) is closing in on Apple’s market cap, currently at $1.3 trillion compared to Apple’s $2.6 trillion. Despite the gap, Meta’s strong free cash flow growth indicates a potential shift in the future, with Meta outperforming Apple in percentage growth.

Apple’s stock price has been outpacing its free cash flow growth, while Meta has been underperforming. With Meta’s free cash flow per share growing by over 1,200% in the last 10 years compared to Apple’s 252%, Meta’s stock may be undervalued, hinting at a potential market cap surpass in the future.

Despite Apple’s strong market position, Meta Platforms has shown significant growth in market cap in the last year. Considering the financial metrics and market trends, Meta has a chance to surpass Apple’s market cap within the next 10 years, with its current growth and potential for further expansion.

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Read more at Nasdaq: Will Meta Platforms Be Worth More Than Apple by 2030? 1 Key Financial Measure Says Yes.