Apple Inc.AAPL
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Wall Street is betting tech stocks can close out the year strong despite concerns about AI capex and higher interest rates, as global technology equity funds have attracted about $195 billion in inflows over the last 12 months, the most of any major sector and more than the next nine sectors combined, according to Deutsche Bank. The earnings engine for big tech continues to run hot, with the Magnificent 7 companies beating second-quarter estimates by 66.2% versus 26.5% for all S&P 500 companies, and their earnings growth hit 118.5%, the highest since at least late 2020, while the other 493 S&P 500 companies grew earnings by 31.8%. The top contributors to S&P 500 earnings growth were Alphabet, Amazon, Micron, Nvidia, and Chevron.
Apple Inc.
Amazon.com Inc
Alphabet Inc Class C
Microsoft Corporation
NVIDIA Corporation
Chevron Corp
Deutsche Bank Aktiengesellschaft
FactSet Research Systems Inc
Meta Platforms Inc.
Micron Technology Inc
Tesla Inc