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Fast Take
Each the S&P 500 and Nasdaq Composite are up thus far in 2023; the S&P is up over 9%, whereas the Nasdaq Composite is up 25% yr to this point.
Nevertheless, the uptick within the indices comes from simply the shares of Alphabet, Amazon, Apple, Meta, Microsoft, Tesla, and Nvidia when digging nearer into the info.
These seven tech firm shares are up $3.16 trillion, or 46%, for the reason that begin of the yr, in keeping with Jeroen Blokland, the founding father of funding analysis agency True Insights
Nevertheless, the mixed market cap of all different 493 shares within the S&P 500 index is down $0.85 trillion, or 3% this yr, in keeping with Blokland.
In the meantime, Nvidia noticed an distinctive climb this yr, up over 158%, and on Could 25 noticed one of many largest single-day market cap positive aspects in U.S. inventory market historical past, in keeping with Bloomberg and Yahoo Finance knowledge gathered by Statista.
Large Tech Market Cap: (Supply: Bloomberg)
Nvidia market cap soar (Supply: Statista)
The put up S&P, Nasdaq soar in 2023 due to large tech shares appeared first on CryptoSlate.
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