The Five Stocks Driving the Market in 2023

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The performance of the US stock market is the most concentrated it has ever been. Seven of the biggest stocks — Apple, Microsoft, Google owner Alphabet, Amazon, Nvidia, Tesla and Meta — have rallied sharply this year gaining between 35 per cent and 210 per cent this year. The remaining 496 stocks have barely moved.

Five big tech companies make up nearly a quarter of the S&P500. At $3.1trillion dollar market cap, Apple alone is worth more than the Russell 2000 index of companies combined.

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