An Introduction

Big Tech companies such as Microsoft, Google, Meta, Apple, Amazon and Nvidia own and control the ingredients necessary to develop and deploy large-scale AI. To put it bluntly, there is no AI without Big Tech.

Some Background

Tech stocks plummeted by an average of 12% last week (w/e Sept.6th) after the ISM manufacturing index reported August figures that came in below consensus expectations raising fears about the strength of the economy and increasing chances that the Federal Reserve will cut interest rates. The stocks of the 6 companies mentioned above performed much better “only” going DOWN 4.96% on the week.

Our AI Mega-Cap Portfolio

Below are the stock performances of the abovementioned 6 Big Tech companies (market capitalizations of at least $1Trillion w/e Sept. 6th,  in descending order, as compared to the previous week (w/e August 30th), for the month of August and YTD along with their current market capitalizations and any pertinent news, analyses and/or commentary, where available.

1. Apple (AAPL): DOWN 3.6% last week; UP 1.0% w/e Aug. 30th; UP 3.1% in August; UP 14.7% YTD
   • Market Capitalization: $3.48T
2. Microsoft (MSFT): DOWN 3.7% last week; UP 0.1% w/e Aug. 30th; DOWN 0.3% in August; UP 6.8% YTD
   • Market Capitalization: $3.10T
3. Amazon (AMZN): DOWN 4.0% last week; UP 0.8% w/e Aug. 30th; DOWN 1.4% in August; UP 12.8% YTD
   • Market Capitalization: $1.87T
4. Meta Platforms (META): DOWN 4.0% last week; DOWN 1.3% w/e Aug. 30th; UP 9.8% in August; UP 41.3% YTD
   • Market Capitalization: $1.32T
5. Alphabet (GOOGL): DOWN 7.6% last week; DOWN  1.4% w/e Aug. 30th; DOWN 4.8% in August; UP 8.0% YTD
   • Market Capitalization: $2.01T
6. Nvidia (NVDA): DOWN 13.9% last week; DOWN 7.7% w/e Aug. 30th; UP 2.0% in August; UP 107.7% YTD
   • Market Capitalization: $2.93T

Summary

Our AI Mega-Cap Portfolio was DOWN 4.96% last week; DOWN 0.4% the previous week; UP 2.4% in August, and is UP 22.5% YTD. The average market cap of the 6 constituents in the Portfolio was $2.33T.

Thank you for reading the above article. I will update it weekly. Now, as a reward, here is a link to Money, Money, Money—It’s a Rich Man’s World!