Some Background

The stocks of Microsoft, Google, Meta, Apple, Amazon and Nvidia, each with market capitalizations in excess of $1 trillion (i.e. mega caps), were down 4.96% the week ending Sept. 6th after the August ISM manufacturing index raised fears about the strength of the economy and increased chances that the Fed would cut interest rates. The fear subsided during the w/e Sept. 13 ,with all constituents in our AI Mega-Cap Portfolio moving into positive territory, as follows:

Our AI Mega-Cap Portfolio

Below are the stock performances last week (w/e Sept. 13th), in descending order, as compared to the previous week (w/e Sept. 6th), the last week of August (w/e Aug. 30th, for the month of August and YTD along with their current market capitalizations. 

1. Nvidia (NVDA): up 15.8% w/e Sept. 13th; down 13.9% w/e Sept. 6th; down 7.7% w/e Aug. 30th; up 2.0% in August; up 143.4% YTD
   • Market Capitalization: $2.9T
2. Amazon (AMZN): up 8.8% w/e Sept. 13th; down 4.0% w/e Sept. 6th; up 0.8% w/e Aug. 30th; down 1.4% in August; up 22.7% YTD
   • Market Capitalization: $2.0T
3. Microsoft (MSFT): up 7.2% w/e Sept. 13th; down 3.7% w/e Sept. 6th; up 0.1% w/e Aug. 30th; down 0.3% in August; up 14.5% YTD
   • Market Capitalization: $3.2T
4. Meta Platforms (META): up 4.9% w/e Sept. 13th; down 4.0% w/e Sept. 6th; down 1.3% w/e Aug. 30th; up 9.8% in August; up 48.2% YTD
   • Market Capitalization: $1.3T
5. Alphabet (GOOGL): up 4.3% w/e Sept. 13th; down 7.6% w/e Sept. 6th; down  1.4% w/e Aug. 30th; down 4.8% in August; up 12.7% YTD
   • Market Capitalization: $1.9T
6. Apple (AAPL): up 0.8% w/e Sept. 13th; down 3.6% w/e Sept. 6th; up 1.0% w/e Aug. 30th; up 3.1% in August; up 15.6% YTD
   • Market Capitalization: $3.4T

Summary

Our AI Mega-Cap Portfolio went up 6.0% w/e Sept. 13th; down 4.96% w/e Sept. 6th; down 0.4% w/e Aug. 30th; up 2.4% in August, and is now up 29.8% YTD. The average market cap of the 6 constituents in the Portfolio was $2.5T.

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