🧠🧠Big Tech’s dominance is growing: Since 2002, Nasdaq companies’ earnings relative to the S&P 500 have increased from 4.5% in 2002 to a record ~40%. In other words, net income of tech companies has risen significantly faster than the profits of S&P 500 companies. As a result, the Nasdaq is up 816% since 2002 while the S&P 500 is up 378%
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