Just Five Companies Have Accounted for Half of the S&P 500's Growth Since April
S&P concentration in performance: Alphabet, Nvidia, Amazon, Broadcom and Apple, have collectively accounted for ~50% of the S&P 500’s total gains since April 1st. This means these 5 stocks have added ~6 percentage points to the +12% rally of the index over this period.
S&P: The S&P 500 is on track for a fourth consecutive year of double-digit gains.
Anthropic & OpenAI: Earn more revenue per employee than the top public tech companies, both now and at their IPOs.
Semiconductors: Semiconductor names have made new highs amid continued strong demand for chips ... The macro data underpin the recent performance, with global semiconductor sales and Taiwan export orders recording unprecedented growth rates.
Income: US real income growth really is under pressure.
