Apple, Google and Tesla hold back the growth of the S&P 500

Shares of Apple, the third largest company in the S&P 500, have fallen 17% since the beginning of the year due to concerns about tariffs and difficulties with AI services. Alphabet declined by 7%, Tesla – by 26%. Together, they are «dragging» the index down by more than 120 points.

Analysts note that the rally is expanding, but the Group of Seven companies occupy too large a share for the market to grow strongly without them. G7 occupies about a third of the index, including Amazon, whose shares remained unchanged. According to experts, without the growth of these companies, the index is unlikely to be able to rise significantly in the second half of the year.

At the same time, Microsoft, Nvidia and Meta grew by more than 14%, benefiting from investments and the introduction of AI. Apple is facing difficulties integrating AI, and investors are waiting for a clear plan.

Microsoft, Nvidia, and Meta accounted for about half of the index's growth this year, while Netflix, Broadcom, and Palantir also contributed significantly. The S&P 500 is currently trading at a historic high.