The S&P 500 has never been more concentrated in just two stocks than it is today with Nvidia and Apple representing over 15% of the index.

The S&P 500 has never been more concentrated in just two stocks than it is today with Nvidia and Apple representing over 15% of the index. pic.twitter.com/cbJO1PWNs3

— Peter Mallouk (@PeterMallouk) September 23, 2026