We were curious as to the relative market caps of the eleven major industrial sectors. Not surprisingly, the technology sector which includes companies like Apple, Nvidia, TSMC, and Microsoft had almost twice the aggregate market cap of the next largest sector. Surprisingly, to us anyway, the energy sector with giants such as Exxon-Mobil, Shell and Chevron fell well behind the healthcare, financials, industrials, and consumer discretionary sectors.
On an individual company basis, the combined capitalization of Eli Lilly and Novo Nordisk with their blockbuster GLP-1 weight loss drugs (e.g. Ozempic, Wegovy, Mounjaro, and Zepbound) represented almost 12% of the combined market cap of the healthcare sector.
