XLK · WMTMT

Aug 18, 2023May 21, 2024Feb 24, 2025Nov 19, 2025Aug 25, 2026

Breadth

60 / 73

stocks rose with the index

Concentration

100%+

of the gain from NVDA, AAPL, AVGO

Biggest driver

NVDA +26.06

NVIDIA CORP, +392.99%

Biggest drag

ADBE −2.61

ADOBE INC, −46.09%

What drove it

73 members · drivers first · 3Y · residual 10041.6bp exceeds 60bp gate

The XLK rose 10.20% (+16.82 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: Nvidia and Goldman Sachs Lead a Narrow Advance as Energy and Staples Slide

+171.0 pts from 64 gainers−4.8 pts from 9 losers

net +16.8 pts · gainers outweigh losers 35.9 to 1

Stock

Points

Return

XLKsum of all 73 stocks

+16.8

+10.20%

NVDANVIDIA CORP

+26.1

+392.99%

AAPLAPPLE INC

+24.9

+79.83%

AVGOBROADCOM INC

+13.1

+347.80%

MSFTMICROSOFT CORP

+11.5

+58.70%

PLTRPALANTIR TECHNOLOGIES INC A

+10.5

+1,099.51%

MUMICRON TECHNOLOGY INC

+8.4

+1,383.48%

AMDADVANCED MICRO DEVICES

+7.1

+354.41%

LRCXLAM RESEARCH CORP

+5.0

+394.89%

IBMINTL BUSINESS MACHINES CORP

+4.7

+80.40%

AMATAPPLIED MATERIALS INC

+4.4

+244.89%

CSCOCISCO SYSTEMS INC

+3.9

+117.75%

PANWPALO ALTO NETWORKS INC

+3.7

+224.19%

KLACKLA CORP

+3.2

+292.30%

APHAMPHENOL CORP CL A

+3.2

+281.86%

SNDKSANDISK CORP

+2.9

+2,946.85%

43 othersclick to expand the full index

+38.3

GDDYGODADDY INC CLASS A

+0.0

+42.64%

PTCPTC INC

+0.0

+8.01%

TYLTYLER TECHNOLOGIES INC

+0.0

−5.94%

AKAMAKAMAI TECHNOLOGIES INC

+0.0

+4.80%

QQNITY ELECTRONICS INC

+0.0

+30.75%

SWKSSKYWORKS SOLUTIONS INC

+0.0

−30.45%

ACNACCENTURE PLC CL A

−0.0

−34.73%

ROPROPER TECHNOLOGIES INC

−0.1

−13.12%

ITGARTNER INC

−0.2

−40.36%

CDWCDW CORP/DE

−0.2

−25.95%

WDAYWORKDAY INC CLASS A

−0.3

−13.37%

ONON SEMICONDUCTOR

−0.3

−20.08%

SMCISUPER MICRO COMPUTER INC

−0.4

+57.91%

SNPSSYNOPSYS INC

−0.7

−4.04%

ADBEADOBE INC

−2.6

−46.09%

Cap weighting, illustrated

MICROSOFT CORP and CADENCE DESIGN SYS INC moved almost identically (+58.70% vs +50.49%), yet MSFT moved the XLK 121.6× 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 +16.82 pt move · cell size = points contributed · color = direction, intensity = return

NVDA+26.1 pts(+393.0%)

AAPL+24.9 pts(+79.8%)

AVGO+13.1 pts(+347.8%)

MSFT+11.5 pts(+58.7%)

PLTR+10.5 pts(+1,099.5%)

MU+8.4 pts(+1,383.5%)

AMD+7.1 pts(+354.4%)

LRCX+5.0 pts(+394.9%)

IBM+4.7 pts(+80.4%)

AMAT+4.4 pts(+244.9%)

CSCO+3.9 pts

PANW+3.7 pts

KLAC+3.2 pts

APH+3.2 pts

SNDK+2.9 pts(+2,946.9%)

CRWD+2.8 pts

INTC+2.8 pts

STX+2.7 pts

ADBE−2.6 pts

ANET

ADI+2.4 pts

WDC+2.4 pts

TXN

MRVL

DELL+1.7 pts

QCOM

LITE

COHR

FTNT

DDOG

HPE

FLEX

Concentration curve

cumulative share of the +16.82 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%

From −46.09% (ADBE) to +2,946.85% (SNDK). Equal-weight, the XLK would be +190.62% vs the actual +10.20%; the gap is what cap weighting did.

By sector

point contribution · sums to +16.82 pts

-73

+166.2

The year, session by session

every trading day of 2026 · hover for the move

JANFEBMARAPRMAYJUNJULAUG

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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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