Trailer: 8 mega cap stocks have carried markets in 2023. Here’s what comes next
Few of us would’ve predicted that by June the S&P would not only be positive, but up over 11%. On face value, a healthy market. But dig a little deeper, and it quickly becomes apparent that this performance has been carried by the big mega-cap tech stocks. Such is their performance, and the lack of performance by the rest of the index, that Apple, Microsoft, Alphabet and Nvidia now account for a third of the S&P500. This all begs the question: what next? Do these mega cap stocks sell off, does the rest of the market trade up, or will it be a bit of both? If it’s the former, which companies will take the reigns? These questions, and more, are answered by Friday's guest – Jacob Mitchell, founder, CIO and lead Portfolio Manager at Antipodes Partners. Jacob goes to town on a lot of subjects, including: his bear case for consumer-facing mega cap tech; whether the AI boom is in fact a bubble; where he’s seeing low multiples despite strong earnings growth; and the stocks that will lead the the next cycle. Here's a preview of what you can expect.