42 AI stocks drove 67% of S&P 500 gains: ~22x more per stock than the other 458
A basket of 42 AI stocks produced 67% of the S&P 500's 33% gain since January 2024, per JPMorgan Asset Management's Michael Cembalest. They added 22 points. The other 458 stocks added 11.
Per stock that's about 0.52 points each vs 0.024. The average AI name did ~22x the work of everyone else.
That's one bet wearing an index fund costume.
https://x.com/KobeissiLetter/status/2109366172328026612
Sources: @MikeZaccardi: JPMAM Cembalest, 42 AI stocks are 60-80% of S&P earnings growth, returns and capex since Jan 2024 · @biancoresearch: 41 AI-related companies are 48.68% of S&P 500 market cap · X story: AI Stocks Drive Most S&P 500 Gains Since 2024
Not financial advice. For informational and educational purposes only.
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