The world gawked two years ago when Apple Inc.’s market value crossed $1 trillion for the first time. But the feat was less noteworthy when viewed from another perspective: relative size.
That’s because, even with a 13-digit price tag, Apple’s place among its peers in August 2018 wasn’t unprecedented -- it had gotten bigger, but so had the whole market. As a result, its weighting in the S&P 500 remained comparable to past titans in their heyday, such as Exxon Mobil Corp. and IBM Corp.
