The Magnificent Seven tech giants will continue to dominate the index, critics say.
The pension giant raked in $72 billion during the quarter thanks to its public equities portfolios.
Even though the stock market took a nasty fall, companies eagerly paid for their own shares.
Apple, Amazon, Microsoft, Alphabet, and Tesla make up a core portion of both the S&P 500 and Nasdaq 100.
Corporate profits are falling back to a more normal pace (absent some nightmare scenario intruding).
The kings of the tech realm have suffered stock slides but still command powerful advantages.
Disrupters focused on the ‘internet of things’ could be the ones to knock over today’s kingpins. Recall the fates of IBM and other one-time heavyweights.
Legacy stocks are leaders now, but 5G and other digital revolutions promise to return the disregarded innovators of yore to the fore again, Citi says.
Doubts rise that stock’s boffo performance will keep rolling through 2025, although almighty tech might let it maintain some momentum, savants say.