The 10 stocks with the largest market capitalizations in the S&P 500, with more than a 35% weight, significantly influence the index’s performance. NVIDIA has more than a 7% weight, followed by Apple’s 6.9% and Microsoft’s 6.2%.
10 stocks drive significant portion of S&P 500 return
Most of the largest 10 equities outperformed the S&P 500’s 21.1% year-to-date return with NVIDIA leading the way with 186.8%. Apple and Microsoft, with 17.4% and 11% returns, were the laggards.
The majority also topped the broader Russell 3000 index’s 23.7% return.
Almost all of the stocks have relatively high valuations, based on the price-to-sales ratio, compared with the S&P 500 and Russell 3000. All except Berkshire Hathaway have higher P/S multiples.
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