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Apple Has A Historic Week
Happy Friday! In today’s email:
Apple Has A Historic Week
Homeowners Are Spending More Of Their Income On Housing Than Renters
US Consumers Are Optimistic About The Stock Market
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Stock Market Recap For The Week (as of 9am central, Friday June 14th)
S&P 500 = +1.30%
Nasdaq = +3.29%
Dow Jones = -1.15%
Apple Has A Historic Week
For the first time ever, Apple closed above $200 per share, adjusting for stock splits. On Wednesday it hit $220 per share during trading hours.
As of writing this (at 9am central on Friday June 14th), Apple is trading at $214.66, up 8.82% for the week.
Last week I wrote about Nvidia becoming the 2nd largest company by market cap, but as we all know, things move fast in the market. Last week, Apple was #3. Yesterday (Thursday) Apple was the #1 company. Right before I sent this, Apple is back to #2 with Nvidia right on it’s tail at #3. Note: If you want to follow the changes in market cap, you can do so here.
This has been a wild past few weeks with the big 3 companies (Apple, Microsoft & Nvidia) swapping spots. Just to show how dominant the big 3 are: AAPL, MSFT & NVDA alone make up over 20% of the entire S&P 500 index. While the top 10 companies of the S&P 500 make up ~35% of the index.
The top 10 stocks in the S&P 500 make up nearly 35% of the index
What is the takeaway? The big 3 are dominant. Apple, Microsoft & Nvidia. The question is:
Which company will be the first to hit a $4 trillion market cap? |
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Homeowners Are Spending More Of Their Income On Housing Than Renters
What is the takeaway? A lesson I was taught early on about home ownership vs renting was this: A mortgage (plus taxes & insurance) is the least you will pay every month. Renting is the most you will pay every month. Why? When something breaks/has issues/needs fixed, if you own your home, you have to pay for that. If you are renting, that is usually covered by the landlord. Does that mean renting is better? No. Just depends on your situation.
US Consumers Are Most Optimistic About Stock Prices Since 2021
What is the takeaway? Even with elevated inflation & interest rates, US consumers are becoming more optimistic about stocks. This could also be because the market (as a whole) is doing well this year, so people are more optimistic since it is up. The S&P 500 is up +14.43% so far in 2024!
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