It takes a market capitalization of just over $550 billion to make the top 10 list today. And it is expected to rise in the future. If stock prices average 9% annualized returns between now and 2035, some firms will likely be many times larger than this value. With that in mind, here are 7 businesses (in no particular order) that I believe have a good chance of making it onto the list when 2035 arrives.

1. Apple ( AAPL 0.82% )

This shouldn’t come as a surprise to anybody. Even if Apple doesn’t appreciate in value at all, given its market capitalization of about $2.7 trillion today, it would undoubtedly be in the top 10 by 2035. However, with an extremely loyal client base, significant pricing power, and the capacity to generate over $100 billion in free cash flow every year, I wouldn’t be shocked if Apple became the first $5 trillion company before 2035.

2. Amazon ( AMZN -0.90% )

Amazon is one of the world’s most valuable companies with a market capitalization of about $1.63 trillion, but don’t make the mistake of believing it has reached its peak potential. After all, e-commerce represents less than 15% of overall retail sales in the United States, Amazon Web Services (AWS) is expanding at a rapid rate, and there are numerous other areas where Amazon may expand into in the next decade or so.

3. MercadoLibre ( MELI -0.22% )

MercadoLibre is often referred to as the Amazon of Latin America, although it is far more than that. It’s like the Amazon, Block (SQ-4.51%), eBay (EBAY-0.27%), and perhaps even Shopify (SHOP-3.22%) of Latin America all in one stock, with a market value of $57 billion. MercadoLibre is one of the smaller firms on this list with a $57 billion market cap, but it clearly has trillion-dollar potential if it can fulfill its enormous potential.

4. PayPal ( PYPL -2.73% )

PayPal’s stock has taken a beating recently, and its client base isn’t growing as rapidly as investors had anticipated. Despite this, PayPal is still the major leader in payment processing, especially for e-commerce, with over 400 million active users and operations all over the world. There are still some unanswered questions about future growth tactics and the ability to effectively monetize all of its users, but there’s still trillion-dollar potential here.

5. Alphabet ( GOOG -1.26% )( GOOGL -1.14% )

Alphabet is best recognized for its Google platform, which has a near monopoly on the internet search market. With a $1.8 trillion market cap and numerous other firms that may end up being needle-movers, Alphabet is likely to remain one of the top ten businesses in the market by 2035 with a market capitalization of around $2 trillion.

6. Block (Square)

In its first 13 years, Square has gone from a niche payment processing hardware firm to a full-featured financial ecosystem, evolving from a tiny startup into the world’s most valuable payments company. It will be fascinating to watch the next 13 years of Block’s development, and if it can be as innovative as it has been thus far, it may well make the top 10.

7. Shopify

As previously noted in the context of Amazon, e-commerce accounts for less than 15% of retail sales in the United States. And this is in the United States—in many foreign nations, e-commerce penetration is substantially lower. Shopify has established itself as a leader in allowing merchants of all sizes to conduct business online, and it may grow its business by several orders of magnitude as the industry evolves.

Author: Scott Dowdy

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