6 out of the top 20 stocks in the SP500 this year are in the Semiconductor space
Nvidia once again leading everything w/ a gain of +66%. $NVDA . Source: Charlie Bilello
Thanks God for tech! Big tech is the only space seeing upward revisions
Source: TME, Barclays
BREAKING >>> THE NANCY PELOSI EFFECT ! Palo Alto Networks stock, $PANW, is now up 10% today after Nancy Pelosi bought call options on the stock.
The call options are reportedly worth up to $1.25 million. This comes just days after $PANW fell over 30% following their earnings results. Markets are effectively treating Pelosi's trades like an activist hedge fund took a stake in the company. Her track record on buying many large cap tech stocks at their lows, including $NVDA, is largely why... Is Nancy ‘Gordon Gecko’ Pelosi the new Cathie Wood ??? Source: The Kobeissi Letter
Tech has fully decoupled from yields.
Nasdaq has been unphased in front of higher rates (see chart) Source: TME
Big Tech Concentration in one chart
The spread of Nasdaq 100 over Nasdaq Composite is near ATH! Source: Bloomberg, HolgerZ
Magnificent 7 profits now exceed almost every country in the world
The so-called “Magnificent 7” now wields greater financial might than almost every other major country in the world, according to new Deutsche Bank research. The meteoric rise in the profits and market capitalizations of the Magnificent 7 U.S. tech behemoths - Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla — outstrip those of all listed companies in almost every G20 country, the bank said in a research note Tuesday. Of the non-U.S. G20 countries, only China and Japan (and the latter, only just) have greater profits when their listed companies are combined. source : cnbc
According to GS, Index margins excluding “Tech” will only expand modestly in 2024.
source : gs, tme
Tech Funds are on track to see inflows of $85 billion this year, an all-time high
source: BofA, barchart
