MacMusic  |  PcMusic  |  440 Software  |  440 Forums  |  440TV  |  Zicos
apple
Search

Megacap tech stocks like Apple are outperforming the S&P 500 by the widest margin in years

Wednesday March 22, 2023. 08:09 PM , from Mac Daily News
Following the collapse of Silicon Valley Bank and two other U.S. lenders, megacap technology stocks like Apple, Amazon, and Microsoft have outperformed the broader market by the widest margin in years.

Joseph Adinolfi for MarketWatch:

According to an analysis by Alex Atanasiu, a portfolio manager at Glenmede Investment Management, investors scrambling into the perceived safety of megacap technology names caused the cap-weighted S&P 500 index to outperform the average S&P 500 constituent stock by more than 3% last week.
That’s one of the widest five-session margins of outperformance for the cap-weighted index since 1990, according to Atanasiu, who said that comparing the performance of the cap-weighted index to the performance of the average S&P 500 stock is one way to gauge how the largest U.S. stocks are performing relative to the average member of the S&P 500.
In another sign of how the largest technology names are performing relative to the broader market, the Nasdaq 100 outperformed the S&P 500 during the 12 sessions through Friday. That’s the longest streak since 2017, according to an analysis by eToro analyst Callie Cox.

MacDailyNews Take: As we wrote last July:
It’s important to remember: Apple customers are those least affected by rampant inflation. It’s the Android and Wintel PC bottom-feeders who will be most affected by lower-end consumers pulling back discretionary spending as prices for necessities eat into their budgets.
Superior demographics, coupled with Apple’s massive mountain of cash, make Apple a safe harbor in a turbulent market.
Near-perfect prescience is a tough cross to bear, but we do it for you.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

The post Megacap tech stocks like Apple are outperforming the S&P 500 by the widest margin in years appeared first on MacDailyNews.
https://macdailynews.com/2023/03/22/megacap-tech-stocks-like-apple-are-outperforming-the-sp-500-by-t...
News copyright owned by their original publishers | Copyright © 2004 - 2024 Zicos / 440Network
Current Date
Jun, Sat 15 - 10:48 CEST