Market concentration is at an extreme.
For every dollar you put into the S&P 500, 41 cents now lands in just 10 stocks.
$NVDA alone? 8 cents.
$AAPL: 7 cents.
$MSFT and $GOOGL: 6 cents each.
$AMZN: 4 cents.
The next five mega-caps—$AVGO, $META, $TSLA, $MU, $AMD—add another 10 cents combined.
Meanwhile, the following 10 largest companies? Also 10 cents combined.
And here's the kicker: those top 10 names now carry nearly double the weight of the bottom 402 companies in the index, which together represent just 23 cents.
Diversification isn't what it used to be. Big Tech effectively is the market.
For every dollar you put into the S&P 500, 41 cents now lands in just 10 stocks.
$NVDA alone? 8 cents.
$AAPL: 7 cents.
$MSFT and $GOOGL: 6 cents each.
$AMZN: 4 cents.
The next five mega-caps—$AVGO, $META, $TSLA, $MU, $AMD—add another 10 cents combined.
Meanwhile, the following 10 largest companies? Also 10 cents combined.
And here's the kicker: those top 10 names now carry nearly double the weight of the bottom 402 companies in the index, which together represent just 23 cents.
Diversification isn't what it used to be. Big Tech effectively is the market.