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The S&P 500 has achieved its first five-month winning streak since 2013, adding $4 trillion in market cap. Best-performing stocks in Q1 include Super Micro, Nvidia, and Constellation Energy. Goldman Sachs notes the index's overvaluation but predicts further gains. The Magnificent Seven stocks have significantly impacted the S&P 500's performance, with their earnings outpacing the rest of the index. The average S&P 500 stock is now considered overvalued, aligning with Goldman Sachs' analysis.
The Magnificent 7 are no longer the only stocks driving S&P 500 to record highs, per MW. The number of S&500 stocks trading at 52-week highs peaked at 118 in the first quarter, the highest in three years, per MW.
The average S&P 500 stock has joined the Magnificent Seven in overvalued territory, according to Goldman Sachs, $GS.
The Magnificent Seven stocks grew their earnings by 37% over the last year while the remaining 493 companies in the S&P 500 saw a 2% decline. By the 4th quarter of this year, this trend is expected to reverse w/ an 18% YoY increase for the 493 vs. a 15% increase for the Mag 7. https://t.co/YmxOCDbNIJ
