In terms of new highs in yesterday’s trading, it was a pretty unremarkable day. As shown in the table at right, just 14 stocks in the S&P 500 made new 52-week highs. What is noteworthy about the list, though, is the stocks that did hit new highs. Looking at the names, Tech is well represented. More importantly, though, of the 14 stocks listed, three of them are among the five largest companies in the S&P 500. As shown at the top of the list, Alphabet (GOOGL), Microsoft (MSFT), and Facebook (FB), which rank as the second, third, and fifth largest publicly traded US companies and represent more than $1.4 trillion market cap, all hit new 52-week highs.
Not only did these three stocks hit new 52-week highs yesterday, but they also traded to new all-time highs. Below we show the charts of the five largest US companies, which includes the three stocks mentioned above as well as Apple (AAPL) and Amazon.com (AMZN). While shares of AAPL (the largest US company) are still 13% off their all-time high of $134.54 back in April 2015, shares of AMZN (number four on the list) are currently just 1% from their all-time high of $847.21 earlier this month. While overall market breadth hasn’t been bad, the largest stocks in the S&P 500 have definitely been doing a lot of the heavy lifting.
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