Chart of the Day: More than half of YTD gain on NASDAQ is realized by 5 stocks

12/13/2021 | 10:30am

Tech stocks have been real index drivers for several years, in the US more than anywhere else. Even within the Nasdaq, not all stocks are equal. The combination of very high capitalization and above-average price increases enables some companies to boost the performance of the index. So much so that more than half of the Nasdaq's 2021 gains are concentrated in five stocks, according to Bloomberg data compiled by Bank of America. The proof is in the pudding.

The following chart shows which stocks have contributed the most to the Nasdaq's rise this year. The performance is concentrated in five stocks, which account for more than half of the index's rise. Microsoft and Alphabet are the two most influential stocks this year. Also in the mix are Apple and Nvidia, thanks to gains of over 130% since January 1. Tesla completes the list.

Meta Platforms (ex-Facebook) and Amazon are less successful. Jeff Bezos' group has only gained 5% this year, which explains its small contribution to Nasdaq's gains.

The Nasdaq's rise is concentrated in 5 stocks (Source Bank of America)


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