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Just Five Tech Stocks Add Insane $200 Billion In Market Cap In One Day

The Nasdaq is dramatically outperforming the rest of the major US equity indices today...

 

In fact this this is the biggest Nasdaq outperformance of the S&P since May 2009...

“We saw some weakness in the stocks of tech megacaps recently, not so much because of a concern about mediocre earnings but rather because a concern about valuations being stretched,” said Walter Todd, chief investment officer at Greenwood Capital Associates.

“The numbers Google and Amazon reported may trigger a rotation back into tech megacaps and probably a further rally. ”

Putting the massive gains in context...

The Nasdaq 100 has added over $180 billion in market cap today - the biggest addition since the day after Aug 2015's Flash Crash...

 

That is more market cap than 472 of the S&P 500. There are only 28 names with a larger total market cap in the S&P 500 than Tech names added today...

 

Just five Tech stocks - FB, AMZN, MSFT, AAPL, and GOOGL - added a wopping $200 billion in market cap...

 

FANG Stocks (FB, AMZN, NFLX, GOOGL) alone added over $120 billion... the biggest day ever....

 

And finally, as The FT reports, Amazon, Microsoft, and Alphabet alone added a stunning $144 billion - more than the entire market cap of IBM...

As we noted earlier, AMZN is soaring 12.5% today, At its session high of $1,105, Amazon added about $63.5 billion to its market value, more than the market value of 421 of the S&P 500.