As with last year, much of the strength came from the “Magnificent Seven” mega-cap names. These top performers significantly outpaced the broader market again, as evidenced by the equal-weighted S&P’s more modest return.
The broader market saw varied performance across sectors, with semiconductors, cybersecurity, networking, airlines, and financials standing out as key areas of strength. Optimism about artificial intelligence and digital transformation continued to bolster adjacent industries, including utilities.
