Aug. 15 at 3:48 PM
One statistic that should make investors think twice:
Nvidia,
$NVDA, has contributed 10+ percentage points to the S&P 500’s impressive 84% total return over the past five years.
That means Nvidia alone is responsible for roughly 12% of the index’s entire gain.
Apple,
$AAPL, contributed around 5 percentage points, while Microsoft
$MSFT, Broadcom
$AVGO, and Alphabet
$GOOGL added approximately 3, 3, and 2 points.
Combined, these five mega-cap names contributed roughly 25 percentage points nearly 30% of the S&P 500’s total 5-year return.
The headline index looks diversified. Underneath the surface, a handful of mega caps are carrying the market.
