1. Apple is Worth More than the Entire U.S. Small Cap Stock Index.
Barrons–But at some point in the past couple of weeks, depending on data providers, Apple’s market capitalization, at $2.76 trillion, topped the combined market cap of the entire Russell 2000RUT –0.62% index of small-cap stocks. And it gets worse. Today’s five biggest stocks—Apple, Microsoft (MSFT), Alphabet(GOOGL), Amazon.com (AMZN), and Nvidia (NVDA)—have a combined market cap of about $8.7 trillion, almost 25% of the S&P 500 cap and about 3.2 times the $2.7 trillion Russell cap. That, says Michael Arone, chief investment strategist at State Street’s U.S. SPDR exchange-traded fund business, is now larger than the five biggest stocks were relative to the Russell 2000 at the peak of the dot-com boom in 1999 and 2000.
Chart AAPL vs. IWM (small cap Russell 2000)
Al Root at allen.root@dowjones.com
2. Apple and MSFT 14.1% of S&P….NVDA Trading at 29X Sales.
Here are the 10 highest Price to Sales Ratios in Nasdaq 100 today…
1. NVIDIA $NVDA: 29x
2. Lucid $LCID: 18x
3. Intuitive Surgical $ISRG: 18x
4. Seagen $SGEN: 17x
5. DexCom $DXCM: 16x
6. Datadog $DDOG: 16x
7. Cadence $CDNS: 16x
8. CrowdStrike $CRWD: 15x
9. Verisk $VRSK: 15x
10. CoStar $CSGP: 14x
3. NVDA Earnings this Week….Right at Pre-Tech Sell Off Highs
4. Seven Months Without New Lows.
JP Morgan Private Wealth.
5. Budweiser Only Gets 30% of Profits from U.S. and Canada.
Andrew Bary Barrons https://www.barrons.com/articles/buy-bud-stock-price-pick-848b3e7a?mod=past_editions
6. Mineral Mix in Average EV Battery
Capital Group
7. Price Per Sq Foot for Offices -30%
Torsten Slok Apollo Group
8. The Greatest Wealth Transfer in History Is Here….Baby Boomers $78 Trillion
https://ritholtz.com/2023/05/weekend-reads-565/
9. Largest Endowments in World Dominated by U.S. Universities.
The Largest Endowment Funds The largest endowment funds can be compared on a grand economic scale, in terms of assets.
To put it all into perspective, the largest 50 endowment funds represent over a trillion dollars in assets. Or for a more singular example, look at Harvard’s fund, which has an endowment greater than the entire GDP of countries like Serbia, Bolivia, or Slovenia.
Here’s how the top 50 rank.
|
Rank |
Endowment Fund |
Total Assets |
Region |
|
1 |
Ensign Peak Advisors, Inc |
$124,000,000,000 |
North America |
|
2 |
Japan Science and Technology Agency |
$80,700,000,000 |
Asia |
|
3 |
Stanford University |
$75,143,751,000 |
North America |
|
4 |
Harvard Management Company |
$72,781,329,000 |
North America |
|
5 |
Yale University |
$56,223,259,000 |
North America |
|
6 |
Princeton University |
$44,460,038,000 |
North America |
|
7 |
MIT Investment Management Company |
$42,526,492,000 |
North America |
|
8 |
Duke University |
$30,385,835,000 |
North America |
|
9 |
New York University |
$27,840,535,000 |
North America |
|
10 |
Columbia University in the City of New York |
$24,698,782,000 |
North America |
|
11 |
University of Notre Dame |
$24,599,541,000 |
North America |
|
12 |
KAUST Investment Management Company |
$23,500,000,000 |
Middle East |
|
13 |
Emory University |
$20,458,905,000 |
North America |
|
14 |
Johns Hopkins University |
$18,037,751,000 |
North America |
|
15 |
Church Pension Fund |
$17,773,649,171 |
North America |
|
16 |
University of Chicago |
$17,276,136,000 |
North America |
|
17 |
Ohio State University |
$16,006,851,000 |
North America |
|
18 |
Northwestern University |
$15,855,683,000 |
North America |
|
19 |
Washington University in St Louis |
$15,103,569,000 |
North America |
|
20 |
Penn State University, Office of Investment Management |
$15,017,272,000 |
North America |
|
21 |
Notre Dame of Maryland University |
$14,938,580,253 |
North America |
|
22 |
Cornell University |
$14,850,618,000 |
North America |
|
23 |
University of Southern California |
$14,495,427,000 |
North America |
|
24 |
Vanderbilt University |
$13,883,495,000 |
North America |
|
25 |
University of Virginia Investment Management Compnay |
$13,811,076,000 |
North America |
|
26 |
University of Tokyo |
$13,285,270,000 |
Asia |
|
27 |
National University of Singapore |
$12,626,100,000 |
Asia |
|
28 |
UNC Management Company |
$11,986,857,000 |
North America |
|
29 |
University of Michigan Office of Investments |
$11,900,000,000 |
North America |
|
30 |
General Authority of Awqaf |
$11,238,371,192 |
Middle East |
|
31 |
Church Commissioners for England |
$11,197,700,000 |
Europe |
|
32 |
J.Paul Getty Trust |
$10,778,927,000 |
North America |
|
33 |
Trinity Wall Street Episcopal Church |
$9,932,419,000 |
North America |
|
34 |
Unitersity of Utah |
$9,827,602,000 |
North America |
|
35 |
Brown University |
$9,793,108,000 |
North America |
|
36 |
Kamehameha Schools |
$9,326,013,000 |
North America |
|
37 |
Dartmouth College |
$9,078,340,000 |
North America |
|
38 |
Hong Kong Jockey Club |
$8,603,580,000 |
Asia |
|
39 |
Rice University |
$8,424,555,000 |
North America |
|
40 |
The Leona M. and Harry B. Helmsley Charitable Trust |
$8,313,588,000 |
North America |
|
41 |
University of Pittsburgh |
$8,011,856,000 |
North America |
|
42 |
Nature Conservancy |
$7,870,380,000 |
North America |
|
43 |
University of Toronto Asset Management Corporation |
$7,329,730,000 |
North America |
|
44 |
University of Rochester |
$7,149,025,000 |
North America |
|
45 |
Virginia Commonwealth University |
$6,985,495,306 |
North America |
|
46 |
Purdue University |
$6,755,500,000 |
North America |
|
47 |
University of Miami |
$6,582,600,000 |
North America |
|
48 |
University of Minnesota |
$6,304,508,000 |
North America |
|
49 |
Caltech Investment Office |
$6,252,584,000 |
North America |
|
50 |
Metropolitan Museum of Art of New York City |
$5,588,554,000 |
North America |
https://www.zerohedge.com/personal-finance/these-are-worlds-top-50-endowment-funds
10. Late-Night TV RIP
Scott Galloway
