Over the past 30 days, big tech stocks Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla have averaged 8% growth. These companies remain an attractive choice for investors due to their market dominance and continued growth potential in several growing sectors, including cloud computing, e-commerce, and social media.
To put this performance in perspective, the broader market, represented by the S&P 500, also performed solidly, rising 4.5% over the same period.
This growth indicates that overall market sentiment remains positive, supported by macroeconomic factors such as falling inflation and a more stable interest rate outlook. In summary: Big Tech performed almost twice as well as the S&P 500 last month: 8% versus 4.5%.
Top 9 AI Shares: robust growth
Looking beyond traditional technology companies, AI stocks remain the star of this investment year. The top 9 AI stocks according to the AI Spotlight 9 compiled by me entirely subjectively, have shown an impressive 136% rise so far this calendar year. In the past month, these AI stocks again rose much harder than Big Tech stocks (8%) and the S&P 500 (4.5%), averaging 14%. So investors are undiminished by the potential of the big AI players.
There is a great memecoin called 'dogwifhat'
The unexplained memecoins, often fueled by social media hype, especially on Telegram, are also experiencing heyday. Dogecoin, the largest memecoin measured by market value, has a market value of $16 billion at the time of writing (Saturday night, Oct. 5) and a daily trading volume of $430 million.
On average, the top 9 memecoins have experienced 43% growth over the past 30 days. This highlights that speculative interest in this market is tremendously strong, despite all the warnings from well-intentioned old men like me about volatility and lack of underlying value.
Conclusion
The past month has shown strong returns for various types of investments, from traditional big tech stocks to innovative AI companies and even memecoins. Yet it still feels like comparing Warren Buffett's performance in the stock market to your grandmother's performance at bingo.
Big tech remains a stable choice with steady growth, AI stocks show their huge growth potential, and memecoins remain a speculative but lucrative short-term option.
