US
Philip Morris International (PMI), the world’s largest publicly traded tobacco company, has become the fourth most important US stock, right after Apple, Amazon, and Facebook as it emerged as the first quarter’s unsung hero with a 3.3% contribution to S&P 500 gains.
PMI’s performance over the past two months shows investors are keen on the plan to shy away from combustible cigarettes in the hopes of creating a smokeless future, even though it could disturb a steady business with consistently paid dividends.