Great chart from @FactSet that shows the vertical move in Q3 earnings.
Source: Ryan Detrick, CMT @RyanDetrick
Top Cash Rich Stocks in the Market💰:
- Berkshire Hathaway $BRK.B: $381.7 Billion - Microsoft $MSFT: $102 Billion - Alphabet $GOOGL: $98 Billion - Amazon $AMZN: $94 Billion - Nvidia $NVDA: $56 Billion - Apple $AAPL: $55 Billion - Meta $META: $44 Billion - Tesla $TSLA: $41 Billion Source: Patient Investor @patientinvestt
AI mania is the only game in town as the real economy sinks.
Great chart from @WarrenPies highlighting the recent divergence. Source: Bob Elliott @BobEUnlimited
Here are the largest holdings in the S&P 500
Source: Leveraged shares, Evan
The Melt-Up
"However you measure it, tech stocks are on an all-time heater. This is one of the great bull markets we’ve ever witnessed. So now what? Source: Ritholtz @RitholtzWealth
The total value of the US stock market is now ~245% of the country’s GDP – far above the 100% level that Warren Buffett considers a sign of a market bubble.
Source: HolgerZ, Bloomberg
🚨 Such concentration has almost NEVER happened:
NVIDIA accounts for 8% of the S&P 500's market cap, the highest for any company in history. Microsoft’s and Apple’s shares are 6.5% and 6.0%, respectively. The top 10 companies represent a record 40% of the index's total value. Source: Global Markets Investor
🚨The S&P 500 has NEVER been this expensive:
The index Price-to-Sales (P/S) hit 3.6x, WAY above the 2000 Dot-Com Bubble peak of 2.1x. The Price/Book (P/B) ratio hit 5.6x, above the 2000 high of 4.6x. Forward P/E is 26x, the second-highest since the Dot-Com Burst. Source: Global Markets Investor
