Semiconductor Stocks Lead S&P 500 Gains Over Past Six Months
Micron, AMD, Apple, Intel, Broadcom, Nvidia, and Sandisk have together contributed over 4.5 percentage points to the S&P 500's 8% gain in the last six months, with Micron alone adding 1.4 percentage points.
The semiconductor sector has emerged as the primary driver of S&P 500 performance over the past six months. According to data cited by The Kobeissi Letter, Micron ($MU) contributed approximately 1.4 percentage points to the index's 8% gain, the largest contribution from any single constituent, as its stock rallied 188%.
AMD ($AMD) follows with a ~0.9 percentage point contribution after a 158% surge. Apple ($AAPL) and Intel ($INTC) each added ~0.8 percentage points, with Apple gaining 20% and Intel surging 205%. Broadcom ($AVGO), Nvidia ($NVDA), and Sandisk ($SNDK) each contributed ~0.4 percentage points, with returns of 9%, 5%, and 395% respectively.
A handful of chip stocks are powering the broader market's advance during this period.
Source: The Kobeissi Letter