The $S&P 500 Index (.SPX.US)$ 7, also known as[Share Link: ...
Meanwhile, the remaining 493 companies in the S&P 500 are now up just 3% YTD.
All together, the S&P 500 is up 15% YTD.
These 7 tech stocks now represent ~30% of the entire S&P 500.
The entire market is being held up by the AI trend.
The surge in the top 7 stocks compared to the rest of the S&P 500 can be seen below.
As the AI trend began to gain momentum this year, we saw the gap widen substantially.
Even through the regional banking crisis these 7 stocks gained more than 10% while the market fell.
We also just finished Q1 2023 earnings season.
A record 110 S&P 500 companies mentioned AI in their earnings releases.
This is up from 78 companies in the previous quarter and well above the 10-year average of 34.
More companies are mentioning AI than ESG (74 mentions in Q1).
Just 5 years ago, only ~50 S&P 500 companies were discussing AI on their earnings calls.
We expect 200+ S&P 500 companies to begin mentioning AI by the end of this year.
Companies who mention it are being rewarded.
![The $S&P 500 Index (.SPX.US)$ 7, also known as[Share Link: $NVDA][Share Link: $AAPL][Share Link: $TSLA][Share Link: $MSFT][Share Link: $GOOGL][Share Link: $MET...](https://ussnsimg.moomoo.com/feed_image/71429856/89e118b6e4dc330d830457de05e019a2.png/bigmoo)
As the AI-trend gains momentum, market breadth is now the most narrow it has ever been.
The equal-weighted S&P 500 now trails cap-weighted S&P 500 by the most on record.
Markets are really betting on AI being the "next big thing."
![The $S&P 500 Index (.SPX.US)$ 7, also known as[Share Link: $NVDA][Share Link: $AAPL][Share Link: $TSLA][Share Link: $MSFT][Share Link: $GOOGL][Share Link: $MET...](https://ussnsimg.moomoo.com/feed_image/71429856/2c92cce469c739ffa345607d38592891.png/bigmoo)
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