Clearly, it’s good to be in tech this year. Banks, not so much.
The proof is in this tweet from the CEO and co-founder of Roundhill Investments, Will Hershey, who presented the most important winners and losers in the stock market so far this year.
As you can see JPMorgan Chase JPM,
Wells Fargo WFC,
Bank of America BAC,
and Exxon Mobil XOM,
are the only companies most affected than Warren Buffett’s Berkshire Hathaway BRK.A,
This year in the public market.
On the other hand, perhaps unsurprisingly, Amazon AMZN,
Apple AAPL,
Microsoft MSFT,
Tesla TSLA,
and Alphabet father of Google Goog,
led the way in terms of the best results among US stocks.
It doesn’t help, of course, that Buffett invests in the aforementioned banks, although his sizable stake in Apple has certainly dampened Berkshire in this difficult stretch.
Still, Berkshire shares are down more than 16% so far this year, while Tesla, at the top, is up nearly 300%. Here’s how Berkshire’s stock performance compares to the tech giants:
Buffett has been feeling the heat of critics who have called the master of value investing for abandoning his positions on the airline and losing the rebound while sticking with about $ 137 billion in cash. He recently put some of that cash on the line, having closed a $ 10 billion deal for Dominion Energy’s D,
natural gas assets.
Read: Why Buffett is ‘willing to look like a jerk in the short term’
There are indications suggesting that the trend in technology dominance may be changing. Last week, megacap tech names underperformed the old guard, with the Dow outperforming the Nasdaq Compound by more than 3 percentage points, the weekly blue chips highest performance against the heavy tech benchmark since on June 5, according to Dow Jones Market Data.
Read:Is the ‘big turnover’ in the stock market underway as coronavirus cases increase? Or is it a false sunrise? This is what the experts think
As it stands now, the stock market remained stagnant in neutral earlier in the trading session on Monday, with the DIA Jones Industrial Average DJIA,
going down as much as the S&P 500 SPX,
and Nasdaq COMP, heavy on technology,
turned slightly positive.
.
