S&P 500 Hits Record Concentration in Just Two Stocks: Apple and Nvidia

The S&P 500 has reached unprecedented levels of concentration in just two stocks: Apple (AAPL) and Nvidia (NVDA). According to Creative Planning president Peter Mallouk, these two companies represent over 15% of the index. This level of concentration is a new record for the S&P 500.

Nvidia's stock has surged after the company announced it expects its business to grow at least 70% in its next fiscal year, with CEO Jensen Huang stating growth would be north of 100% if not for supply constraints. The stock has risen 21% so far this year.

Meanwhile, Apple's shares have hit an all-time high of $345 after the company unveiled the iPhone 18 and its first foldable device, the Duo. The stock has a year-to-date gain of 25%, with some analysts attributing the surge to the iPhone's popularity.