This week’s Bespoke Report newsletter is now available for members.
Just when they thought Tech was out, they pulled it back in!
Since peaking on July 20th, the Tech sector and FAANG names had been experiencing some downside mean reversion. That downside action came to an end on Friday when Apple (AAPL), Amazon (AMZN), and Facebook (FB) all surged on extremely impressive earnings results.
Below is one chart from this week’s Bespoke Report that shows the strength we’ve seen from the mega-caps in 2020. As shown, the five largest stocks in the S&P 500 have collectively added $1.66 trillion in market cap this year. The other 495 stocks in the index have lost $1.61 trillion in market cap!
We discuss this week’s action across financial markets in our weekly Bespoke Report newsletter. To read the report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!