As if war wasn’t terrifying enough 😬
Writer: Ian
Video
As if war wasn’t terrifying enough 😬
Writer: Ian
Video
Nvidia did the heaviest lifting, single-handedly accounting for 13% of the gain after adding roughly $1.2 TRILLION in market value.
Micron, Apple and Microsoft chipped in about 9% each, with AMD also among the leaders, per a Nomura analysis by strategist Charlie McElligott.
The other 490 companies? They contributed just 30% of the rally. Combined.
Nvidia alone now accounts for about 8% of the entire S&P 500, the biggest weighting for a single stock in more than 50 years.
Meanwhile, chipmakers have gone from roughly 5% of the index in 2020 to nearly 20% this summer.
So anyone buying the S&P for “diversification” is basically holding an AI chip fund with 490 passengers along for the ride.
Sources: Nomura, Crypto Briefing / Writer: Julie
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