Since May, I’ve been ranting and raving about the Great Tech Reset. And just today, we finally saw the S&P 500 make a new all-time high for the first time in over four months.
This rally, of course, is being driven higher by the technology sector. This isn’t surprising given it accounts for 30% of the S&P 500.
In fact, if we go back to the April 7 low, the XLK Technology ETF is up over 37%. That’s pretty remarkable considering it hasn’t even been two months.
But what if I told you there’s another component within tech that’s up even more? Check this out…
Great Tech Reset Pillar #1: Super-Chip Technology
There are three pillars of the Great Tech Reset, but today, I just want to focus on the first in super-chip technology. Let’s be frank: none of the revolutionary tech we’re seeing today, from artificial intelligence to quantum computing, would be possible without significant advancements in the chip space.
So, it’s not a surprise to see that the semiconductor ETF, SMH, is up over 50% since the April 7 low. If that doesn’t say Great Tech Reset, then I don’t know what does.
Speaking of chip stocks, have you seen Nvidia? It just hit a new all-time high. The consequences of this cannot be understated either.
Nvidia has, in many ways, defined the meteoric rise of artificial intelligence and the tech sector over the past several years.
And the weight of the evidence suggests that another run to the upside is starting.
It’s why I took a substantial position in it with the Million-Dollar Challenge portfolio, too.
Talk soon,
Gianni Di Poc
THEOTrade