This Great Graphic was on Barry Ritholtz's Big Picture blog. It originally was from Morgan Stanley's Adam Parker. It notes that nearly 90% of this year's earnings growth of the S&P 500 companies can be traced to 2% or 10 companies.
There seems to be two industries represented and Big Oil is not one of them. It is finance with 6 of the top 10, but if you allow the inclusion of GE (due to GE Finance), finance accounts for 70%. Technology is the other industry, led by Apple, IBM and Western Digital.
It is even more concentrated than the chart suggests. Four companies--three financial services (AIG, Goldman and Bank of America) and one technology firm (Apple) provided over half of the earnings growth of the S&P 500.
Great Graphic: US Corporate Earnings Concentration
Reviewed by Marc Chandler
on
December 02, 2012
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![Great Graphic: US Corporate Earnings Concentration](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM0mt0E9W2fhO4m7CAjc37CleKoQWtVk0-xUy8afxxMaS_0hlx7nz3Xe-xDWhL2P4DUvvfjVsw6bm7qm1TcrZml9-LI5UPdVnrB5mrQis5M3v84KW6t8JpEs4o2lmZiGPuPfpRrzvBLMmz/s72-c/ten+stocks.png)