Good morning. In the wake of fresh market milestones (Nvidia worth $5 trillion, Microsoft worth $4 trillion), it’s worth noting that so-called Big Tech companies now dominate the stock market more than ever.
Eight of the 10 biggest stocks in the S&P 500 index, for example, are tech. That includes the aforementioned pair plus Apple, Alphabet, Amazon, Broadcom, Meta, and Tesla.
Together they account for 36% of the large cap-U.S. index’s overall value and 60% of its gains since April, notes the Financial Times.
On the one hand, the Big Tech companies are lifting the entire index as they ride the AI boom. On the other hand, those same companies could knock out an entire market if and when they hit a pothole. Hmm.
Today’s tech news below. —Andrew Nusca
