这四家公司主宰了近20年的美国经济

    20年前，《财富》美国500强榜单（Fortune 500）经历了一次重大调整。这份榜单最早诞生于1955年，起初只包含工业公司。毕竟在20世纪中期，最重要的公司都是从事生产制造的。而其余公司则被列入了《财富》“美国服务企业500强排行榜”（Fortune Service 500）。

    1995年，《财富》编辑决定整合这两份榜单。尽管通用汽车等传统工业巨头仍在榜上名列前茅，但当年排名第4的沃尔玛等新上榜成员也证明：出售产品或服务的公司重要性并不比制造公司低。

    当然，无论在任何时候，美国500强中市值最高的公司和收入最高的公司都有很大差别。市值更多体现的是市场对美国产业的未来（而不是当下状况）的看法。研究美国500强榜单调整后这20年来市值最高的公司，可以让我们窥得美国近年来经济史的一角。

    20年前，《财富》美国500强中市值最高的公司是通用电气，这是美国多元化大公司和工业时代留存下来的巨头。在富有传奇色彩的董事长兼CEO杰克·韦尔奇任内，通用电气进行了多次收购，将美国全国广播公司和霍尼韦尔等纳入麾下，使得公司市值水涨船高。但很快，微软就赶超了通用电气，展现出个人电脑对美国经济的惊人影响力。而在互联网泡沫破灭之后，通用电气一度短暂地重返榜首。

    紧接着，过去十年，受石油供应减少、新兴市场飞速发展的推动，“石油热潮”将埃克森美孚推上了市值最高公司的宝座。这家油气巨头占据榜首达七年之久，随后被苹果赶超，后者开始占据这一王座直至今天。我们目前仍然生活在一个被智能手机、App和其他数字娱乐所主导的世界，而所有这些领域，苹果都牢牢地掌控着大权。（财富中文网）

    译者：严匡正

    审校：任文科

    Twenty years ago, the Fortune 500 underwent a major relaunch. The original list, which was first published in 1955, only included industrial companies. In the middle of the 20th century, after all, the most important companiesmade things. The rest were relegated to the Fortune Service 500.

    In 1995, Fortune’s editors decided to combine the two lists. And while industrial giants like General Motors

    still dominated, new entrants–like Walmart , which was No. 4 that year–showed that the companies selling products or services could be just as important as those that actually manufactured them.

    Of course, at any given point in time, the most valuable companies on the Fortune 500 can differ significantly from the companies bringing in the most revenue. A measurement like market capitalization tells us more about what the market believes will be the future of American industry, rather than its present. Studying the most valuable companies on the Fortune 500 since it was reorganized 20 years ago offers a telling portrait of recent American economic history.

    The most valuable company on the Fortune 500 20 years ago, General Electric , was a holdover from America’s conglomerate and industrial era. The company’s value was buoyed by the many acquisitions legendary Chairman and CEO Jack Welch made throughout his tenure, like NBC and Honeywell. But soon, Microsoft overtook GE, making clear the overwhelming influence that personal computers had over the U.S. economy. GE briefly reclaimed the top spot following the dot-com crash.

    But the oil boom of the last decade, fueled by dwindling supplies and huge growth in emerging markets, pushed Exxon Mobil into the top spot. The oil and gas giant stayed at the top of the heap for seven years, until Apple surged ahead to claim the title it still holds today. We still live in a world dominated by smartphones, apps, and other digital entertainment, all areas that Apple has firmly planted flags.