XLK · WMTMT

Jul 13Aug 4Aug 26Sep 17Oct 9

Breadth

49 / 75

stocks rose with the index

Concentration

65%

of the gain from MSFT, NVDA, AAPL

Biggest driver

MSFT +4.43

MICROSOFT CORP, +37.11%

Biggest drag

IBM −0.80

INTL BUSINESS MACHINES CORP, −21.18%

What drove it

75 members · drivers first · 3M · residual 74.3bp exceeds 60bp gate

The XLK rose 9.65% (+17.50 pts) over the past three months, and 65% of that gain came from just three stocks: MSFT, NVDA, AAPL.

Read the latest market-close note: Goldman and Microsoft Push the Dow to a Large Gain While Telecoms Sink Communication Services

+22.5 pts from 45 gainers−4.8 pts from 30 losers

net +17.5 pts · gainers outweigh losers 4.7 to 1

Stock

Points

Return

XLKsum of all 75 stocks

+17.5

+9.65%

MSFTMICROSOFT CORP

+4.4

+37.11%

NVDANVIDIA CORP

+4.3

+12.65%

AAPLAPPLE INC

+2.7

+6.18%

PLTRPALANTIR TECHNOLOGIES INC A

+1.6

+60.76%

AMDADVANCED MICRO DEVICES

+1.6

+13.79%

MUMICRON TECHNOLOGY INC

+1.3

+9.82%

CRWDCROWDSTRIKE HOLDINGS INC A

+0.8

+46.37%

MRVLMARVELL TECHNOLOGY INC

+0.6

+26.55%

PANWPALO ALTO NETWORKS INC

+0.6

+26.79%

DELLDELL TECHNOLOGIES C

+0.5

+37.47%

ANETARISTA NETWORKS INC

+0.5

+19.66%

HPEHEWLETT PACKARD ENTERPRISE

+0.4

+55.42%

LITELUMENTUM HOLDINGS INC

+0.4

+43.64%

ACNACCENTURE PLC CL A

+0.3

+50.79%

CRMSALESFORCE INC

+0.3

+33.82%

45 othersclick to expand the full index

+1.8

INTUINTUIT INC

−0.1

+4.48%

FSLRFIRST SOLAR INC

−0.1

−19.55%

DDOGDATADOG INC CLASS A

−0.1

+12.69%

ADBEADOBE INC

−0.1

+5.06%

TXNTEXAS INSTRUMENTS INC

−0.1

−4.48%

NXPINXP SEMICONDUCTORS NV

−0.1

−18.27%

CDNSCADENCE DESIGN SYS INC

−0.1

−6.64%

FICOFAIR ISAAC CORP

−0.2

−47.76%

GLWCORNING INC

−0.2

−14.44%

KLACKLA CORP

−0.4

−11.91%

AMATAPPLIED MATERIALS INC

−0.4

−11.79%

AVGOBROADCOM INC

−0.5

−5.86%

APHAMPHENOL CORP CL A

−0.5

−44.11%

WDCWESTERN DIGITAL CORP

−0.7

−28.49%

IBMINTL BUSINESS MACHINES CORP

−0.8

−21.18%

Cap weighting, illustrated

NVIDIA CORP and AUTODESK INC moved almost identically (+12.65% vs +10.90%), yet NVDA moved the XLK 426.5× as much. In a cap-weighted index, the bigger company's weight turns the same percentage move into far more points.

Attribution map

slicing the +17.50 pt move · cell size = points contributed · color = direction, intensity = return

MSFT+4.4 pts(+37.1%)

NVDA+4.3 pts(+12.7%)

AAPL+2.7 pts(+6.2%)

PLTR+1.6 pts(+60.8%)

AMD+1.6 pts(+13.8%)

MU+1.3 pts(+9.8%)

IBM−0.8 pts(−21.2%)

CRWD+0.8 pts(+46.4%)

WDC−0.7 pts(−28.5%)

MRVL+0.6 pts

PANW+0.6 pts

APH−0.5 pts

DELL+0.5 pts(+37.5%)

AVGO−0.5 pts(−5.9%)

ANET+0.5 pts

AMAT−0.4 pts

KLAC−0.4 pts

HPE

LITE+0.4 pts

ACN+0.3 pts

CRM

SNDK

GLW

FICO

TER

CDNS

KEYS

INTC

ADI

TXN

Concentration curve

cumulative share of the +17.50 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−50%−25%0%+25%+50%

From −47.76% (FICO) to +60.76% (PLTR). Equal-weight, the XLK would be +12.55% vs the actual +9.65%; the gap is what cap weighting did.

By sector

point contribution · sums to +17.50 pts

-75

+17.7

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUGSEPOCT

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What drove it

Attribution map

Concentration curve

When they drove it

Breadth

By sector

The year, session by session

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