Tech giant Google is worth more than Russia, while coffee chain Starbucks is “practically” the same size as Turkey, new analysis has shown.
Taiwan, at $430 billion, is eclipsed by oil giant Exxon at $439 billion market cap. Google’s $380 billion places it ahead of South Africa ($276 billion), India ($234 billion), and Russia ($225 billion).
Meanwhile Facebook, at $145 billion, is worth more than Indonesia and Turkey put together ($138 billion).
Bank of America Merrill Lynch’s chief investment strategiest Michael Harnett writes: “Brazil’s market cap barely exceeds that of Google, India’s is less than Wells Fargo’s and Turkey’s is practically the same as Starbucks”.
Harnett’s analysis compares the countries and the business behemoths by their market capitalisation, the combined value of all their shares on the stock market.