A small grouping of mega-cap stocks are behind almost all of the S&P 500’s 2023 rally, as investors pile back into the stocks battered last year and shun smaller-cap stocks amid macroeconomic and banking uncertainty, though one analyst cautioned about what the concentrated rally means for the market’s broader health.Silicon Valley titans Alphabet, Apple, Meta and Nvidia, Seattle’s Amazon and Microsoft and electric vehicle giant Tesla gained more than $2.
Incredibly, those seven stocks account for 88% of the S&P’s 2023 gains, with the index up $2.4 trillion this year and 7% overall. Apple’s $549 billion in added market cap is by far the greatest of the seven stalwarts, though each stock is up more than 20% year-to-date with more than $175 billion in market cap gains apiece.
In a recent note to clients, LPL Financial strategist Jeffrey Buchbinder said “narrow leadership” in the S&P “reflects a less healthy rally than one with broader participation,” pointing out there’s a lack of technical basis for the recovery as forward-looking metrics for tech remain “stretched” thin.
And Morgan Stanley analyst Michael Wilson noted last week historical data disagrees with the notion that big tech companies are a defensive play, as their gains in recent weeks as cracks in the U.S. banking system emerged may suggest, cautioning against investing in the sector until there’s a clear bottoming among the broader market.for tech, with the Nasdaq composite sliding 33%, captained by Meta and Tesla’s more than 60% losses.
We see them.
❤️
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Day traders are buying stocks in 2023, but meme interest fading: RobinhoodRobinhood's head of investment strategy says retail traders are continuing to pile into stocks - and now favor long-term strategies over the rush of meme plays Robinhood has an Investment strategy? the stock: Robinhood的投资策略主管表示，零售交易员正在继续涌入股票，现在他们更喜欢长期策略，而不是迷因游戏的热潮
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »
PepsiCo exec on how to encourage tech transformation within a companyWith over two decades of technology implementation experience, Kanioura shared insight into how companies — big or small — can strategically implement new tools internally. Presented by sapbtp.
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »