The S&P 493 index, the S&P 500 index excluding the 7 largest technology stocks, is up just 4% this year. $SPY+0.0%
While the S&P 7, also known as the 7 largest companies in the S&P 500, rose 52%.
Taken together, the S&P 500 index as a whole is up 13% this year.
The seven largest stocks in the S&P 500 now account for a whopping 34% of the value of the entire index.
Without these 7 stocks, the S&P 500 Index is essentially FAT and almost unchanged this year.
What happens if the AI excitement and hype around it fades?
Judging by $META'+0.1% s latest event, the AI hype is far from over, it's about time.
It's interesting and sometimes it scares me a little. However, I know that these are quality companies and their stocks have been going up for a long time and they have been pulling up the index for a long time.
The big companies are still on top and for example $AAPL-0.8% has looked at all new highs. I'm curious if anything will ever replace them and what it will be.