Big Tech’s market value in the S&P 500 has surged to more than a quarter of the index, with just seven stocks this year adding heft larger than the weight of...
Big Tech’s market value in the S&P 500 index has surged to more than a quarter of the index, with just seven stocks this year adding heft larger than the weight of its entire energy sector, according to DataTrek Research.
Companies known as Big Tech, including Apple Inc. AAPL , Microsoft Corp. MSFT , Google parent Alphabet Inc. GOOG , Amazon.com Inc. AMZN , Nvidia Corp. NVDA , Facebook parent Meta Platforms Inc. META and Tesla Inc. TSLA , now represent 27.4% of the S&P 500 after soaring in 2023, a DataTrek note Tuesday shows.
Meanwhile, the amount of Big Tech’s added weight this year is also about triple the 2.5% the materials sector represents in the index, said Colas. While the rest of the S&P 500 may be starting to benefit from “stabilizing” expectations for company earnings against the backdrop of still “reasonably strong” economic growth, as well as from “incremental clarity” over the past few weeks on the debt ceiling and the Federal Reserve’s upcoming policy meetings this month and July, “we will want to see more proof before being convinced of its permanence.
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