Live data
AAPL — Apple Market Cap, Share Price. Open AAPL on the Ledge to see current values.
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| Category | Market Cap | Characteristics |
|---|---|---|
| Large-cap | Over $10 billion | Stable, well-researched, lower volatility (e.g., Apple, Microsoft) |
| Mid-cap | $2B - $10B | Established but still growing, often acquisition targets |
| Small-cap | Under $2B | Higher growth potential but higher risk of failure |
Key point
Conventions vary. Oxford Ledge uses a 5-tier scheme internally: Mega ≥ $200B, Large $10-200B, Mid $2-10B, Small $300M-$2B, Micro < $300M. MSCI and S&P use slightly different cutoffs. The 3-tier table above is the most common public framing.
Chart
Historical average annual return by market cap (approximate)
Source: Ibbotson SBBI / Morningstar, 1926-2023 US data.
Key point
Small-cap stocks historically deliver higher returns on average, but with much greater volatility. A biotech startup might rise 500% or go to zero. Microsoft is unlikely to do either.
Try it
Use the **Screener** to filter by market cap. Sort descending to see the largest companies, then ascending to see the smallest.
Check-in
Which market cap category is most likely to be an acquisition target by a larger company?
Key insight
Check-in
A retiree wants steady, lower-risk holdings and dislikes large price swings. Based on this module's size categories, which fits the goal best?
Check your understanding
Sit with the ideas.
Which type of company is most likely to double in value over 5 years, but also most likely to go bankrupt?
Why: