We are witnessing unprecedented market concentration: Magnificent 7 stocks now reflect a record 38% of the S&P 500’s market cap. This means that 38 cents of every $1 invested in the S&P 500 goes into these 7 names. The percentage has DOUBLED since the 2020 pandemic. Nvidia, $NVDA, Microsoft, $MSFT, and Apple, $AAPL, alone make up 22% of the index's market value. Meanwhile, the combined market value of the top 10 stocks has climbed to a record 42% of the S&P 500. Never in the history of financial markets has concentration been this high. Big tech is all that matters.