XLK · WMTMT

Oct 4, 2023Jul 9, 2024Apr 9, 2025Jan 7, 2026Oct 9, 2026

Breadth

63 / 75

stocks rose with the index

Concentration

100%+

of the gain from NVDA, AAPL, AVGO

Biggest driver

NVDA +27.98

NVIDIA CORP, +421.56%

Biggest drag

ADBE −3.11

ADOBE INC, −53.27%

What drove it

75 members · drivers first · 3Y · residual 10153.3bp exceeds 60bp gate

The XLK rose 20.54% (+33.87 pts) over three years, and more than all of that gain came from just three stocks: NVDA, AAPL, AVGO.

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

+188.1 pts from 64 gainers−6.0 pts from 11 losers

net +33.9 pts · gainers outweigh losers 31.1 to 1

Stock

Points

Return

XLKsum of all 75 stocks

+33.9

+20.54%

NVDANVIDIA CORP

+28.0

+421.56%

AAPLAPPLE INC

+27.0

+96.28%

AVGOBROADCOM INC

+15.0

+352.43%

MUMICRON TECHNOLOGY INC

+10.4

+1,427.59%

AMDADVANCED MICRO DEVICES

+10.0

+484.32%

PLTRPALANTIR TECHNOLOGIES INC A

+8.5

+1,228.99%

MSFTMICROSOFT CORP

+8.2

+71.36%

INTCINTEL CORP

+6.6

+196.34%

LRCXLAM RESEARCH CORP

+4.9

+416.18%

APHAMPHENOL CORP CL A

+4.9

+113.84%

AMATAPPLIED MATERIALS INC

+4.4

+272.26%

CSCOCISCO SYSTEMS INC

+4.4

+137.19%

IBMINTL BUSINESS MACHINES CORP

+4.2

+75.39%

PANWPALO ALTO NETWORKS INC

+3.7

+254.24%

CRWDCROWDSTRIKE HOLDINGS INC A

+3.5

+570.62%

45 othersclick to expand the full index

+44.5

AKAMAKAMAI TECHNOLOGIES INC

+0.0

+0.38%

TWLOTWILIO INC A

+0.0

+19.78%

CRMSALESFORCE INC

+0.0

+15.50%

QQNITY ELECTRONICS INC

+0.0

+30.85%

TYLTYLER TECHNOLOGIES INC

−0.0

−14.34%

ACNACCENTURE PLC CL A

−0.1

−28.60%

ONON SEMICONDUCTOR

−0.2

−13.85%

ROPROPER TECHNOLOGIES INC

−0.2

−24.08%

CDWCDW CORP/DE

−0.2

−27.97%

WDAYWORKDAY INC CLASS A

−0.2

−10.88%

ITGARTNER INC

−0.2

−43.73%

SMCISUPER MICRO COMPUTER INC

−0.5

+49.27%

INTUINTUIT INC

−0.6

−40.33%

SNPSSYNOPSYS INC

−0.7

+10.55%

ADBEADOBE INC

−3.1

−53.27%

Cap weighting, illustrated

MICROSOFT CORP and ZEBRA TECHNOLOGIES CORP CL A moved almost identically (+71.36% vs +67.65%), yet MSFT moved the XLK 48.8× 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 +33.87 pt move · cell size = points contributed · color = direction, intensity = return

NVDA+28.0 pts(+421.6%)

AAPL+27.0 pts(+96.3%)

AVGO+15.0 pts(+352.4%)

MU+10.4 pts(+1,427.6%)

AMD+10.0 pts(+484.3%)

PLTR+8.5 pts

MSFT+8.2 pts(+71.4%)

INTC+6.6 pts(+196.3%)

LRCX+4.9 pts

APH+4.9 pts

AMAT+4.4 pts

CSCO

IBM+4.2 pts(+75.4%)

PANW+3.7 pts(+254.2%)

CRWD+3.5 pts(+570.6%)

ANET+3.4 pts

SNDK+3.3 pts

ADBE−3.1 pts

TXN+3.0 pts

STX

KLAC

ADI

MRVL+2.6 pts

WDC+2.4 pts

QCOM+2.2 pts

DELL+2.0 pts

LITE

HPE

TER

CIEN

SNPS

TEL

INTU

Concentration curve

cumulative share of the +33.87 pt move · sorted by contribution

When they drove it

cumulative points through the period

Breadth

member returns, this period

−100%+100%+300%+500%+700%+900%+1,100%+1,300%+1,500%+1,700%+1,900%+2,100%+2,300%+2,500%+2,700%+2,900%+3,100%

From −53.27% (ADBE) to +3,154.77% (SNDK). Equal-weight, the XLK would be +210.79% vs the actual +20.54%; the gap is what cap weighting did.

By sector

point contribution · sums to +33.87 pts

-75

+182.0

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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