Mega-Cap Tech
Markets
S&P 500 concentration hits 35% as mega-cap dominance approaches dot-com extremes
Record indices mask historic fragility as top ten stocks control 40% of market value and breadth indicators flash warning signals.
AI
Markets
Apple’s $100B Buyback Exposes the AI Capital Allocation Dilemma
Record earnings and shareholder returns mask a strategic tension: defending margins versus matching rivals' infrastructure spending as concentration risk reaches dot-com levels.