The S&P 500 hasn't been this dependent on just 2 stocks since 1978 as Apple and Microsoft become havens
The growing influence of Apple and Microsoft comes as shares have rallied 23% and 14%, respectively, so far in 2023, rebounding from steep losses last year.
Tech stocks broadly have been seen as relatively safe bets in the stock market lately. In the immediate wake of the collapse of Silicon Valley Bank,"While it sounds like [a] Twilight Zone comment to many investors, tech stocks have become the new safety trade with big tech names a major beneficiary of this dynamic," Wedbush analyst Dan Ives said in a recent note.
But perhaps the strongest driver of technology stocks' returns is the sharp decline in bond yields and
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