Chinese tech stocks are up 10% this week, set for best week since the reopening rally in late 2022 as things stand.Clone)
Source: David Ingles, Bloomberg
How are the 'Magnificent 7' Tech Stocks doing so far this year?
Nvidia Is Up +53.9% $NVDA Meta Is Up +35.9% $META Amazon Is Up +14.9% $AMZN Alphabet Is Up +10.5% $GOOGL Microsoft Is Up +6.1% $MSFT Apple Is Down -14.3% $AAPL Tesla Is Down -40.8% $TSLA $SPY Source: Bloomberg, Jesse Cohen
"Make America Great Again" by Joe Biden
Micron $MU is set to receive over $6 Billion in chip grants from the 🇺🇸 to help pay for domestic factory projects - Bloomberg Source: Bloomberg, Evan
A great chart by HolgerZ ->
Big Tech vs Non-Profitable Tech (long-duration stocks) curve tracks perfectly the US 10y yield rise. It shows very nicely the consequences of the rise in yields for the stock market. Source chart: Bloomberg
Goldman is embracing the rotational trade as well:
"Sell your Tech Stocks and invest elsewhere" says Goldman Sachs
Tech Stocks are trading at all-time highs relative to the SP500, even surpassing the peak of the Dot Com bubble...
Source: BofA, Bar chart
Semiconductor Value Chain
by @Quartr_App
Is the semiconductors trade getting overcrowded?
VanEck Semiconductor ETF $SMH had the largest inflows in the history of the ETF yesterday, according to Goldman. Source: Markets & Mayhem
