The Kobeissi Letter(@KobeissiLetter):Semiconductor stocks are the new leaders of the market: Micron, $MU, has contributed ~1.4 percentage points to the S&P 500's +8% gain over the last 6 months, the largest contribution of any index constituent. This comes as the stock rallied +188% over this period. AMD, $AMD, ranks 2nd with a ~0.9 percentage point contribution after surging +158%. Apple, $AAPL, and Intel, $INTC, follow with ~0.8 percentage point contributions as their stocks gained +20% and +205%, respectively. Broadcom, $AVGO, Nvidia, $NVDA, and Sandisk, $SNDK, each added ~0.4 percentage points with returns of +9%, +5%, and +395%, respectively. A handful of chip stocks are powering the broader market.

2026.07.15 17:30

Semiconductor stocks are the new leaders of the market: Micron, $MU, has contributed ~1.4 percentage points to the S&P 500's +8% gain over the last 6 months, the largest contribution of any index constituent. This comes as the stock rallied +188% over this period. AMD, $AMD, ranks 2nd with a ~0.9 percentage point contribution after surging +158%. Apple, $AAPL, and Intel, $INTC, follow with ~0.8 percentage point contributions as their stocks gained +20% and +205%, respectively. Broadcom, $AVGO, Nvidia, $NVDA, and Sandisk, $SNDK, each added ~0.4 percentage points with returns of +9%, +5%, and +395%, respectively. A handful of chip stocks are powering the broader market.