This tracks how US Mega-cap Tech is performing against the S&P 500: the relative-strength read traders use to find themes gaining momentum and the strongest stocks within them. Look for three things: whether it is gaining or losing ground on the index, whether the move is broad or led by a few large names, and which stocks lead on relative strength.
Current read · as at 15 Oct 2026
US Mega-cap Tech is outperforming the S&P 500 but losing momentum (the weakening zone of the rotation chart). It is up 1.8% over the past month and 4.6% year to date. 5 of 10 stocks are above their 50-day average. On 3-month relative strength, MSFT.US, META.US and NVDA.US lead the theme.
Relative strength is measured against S&P 500, centred at 100. Above 100 means it outpaced the benchmark.
Performance charts
Rebased to 100 vs S&P 500
End of day
US Mega-cap Tech vs S&P 500
Rising = outperforming
100 = matches benchmark. Above = outpacing it; below = lagging.
What's underneath the leaders
End of day
Latest-day drivers
- ORCL.US-8.83%-0.88%
- META.US-3.27%-0.33%
- NVDA.US-3.16%-0.32%
Top 3 account for 58% of the total move.
Contribution is each holding's weight times its one-day move.
Emerging leaders (3-month rank)
- 1MSFT.US+7
- 2META.US+2
- 3NVDA.US-1
- 4AAPL.US-3
- 5AMZN.US0
Rank 1 = strongest 3-month move. Delta is the rank change; positive means improving.
Breadth and Effective N measure how widely the basket is moving right now — a participation gauge, not a forecast.
Constituents
Weights and contribution to the basket move
AAPL.US | Apple Inc. | $342.96 | +0.50% | 10.0% | +0.05% |
AMZN.US | Amazon.com Inc | $254.08 | -1.74% | 10.0% | -0.17% |
AVGO.US | Broadcom Inc | $346.25 | -3.10% | 10.0% | -0.31% |
GOOGL.US | Alphabet Inc Class A | $347.64 | -1.74% | 10.0% | -0.17% |
META.US | Meta Platforms Inc. | $737.54 | -3.27% | 10.0% | -0.33% |
MSFT.US | Microsoft Corporation | $533.69 | -1.80% | 10.0% | -0.18% |
NFLX.US | Netflix Inc | $70.57 | +0.16% | 10.0% | +0.02% |
NVDA.US | NVIDIA Corporation | $221.30 | -3.16% | 10.0% | -0.32% |
ORCL.US | Oracle Corporation | $130.55 | -8.83% | 10.0% | -0.88% |
TSLA.US | Tesla Inc | $367.16 | -2.15% | 10.0% | -0.22% |
AAPL.US
Apple Inc.
- Last
- $342.96
- 1D
- +0.50%
- Weight
- 10.0%
- Contribution
- +0.05%
AMZN.US
Amazon.com Inc
- Last
- $254.08
- 1D
- -1.74%
- Weight
- 10.0%
- Contribution
- -0.17%
AVGO.US
Broadcom Inc
- Last
- $346.25
- 1D
- -3.10%
- Weight
- 10.0%
- Contribution
- -0.31%
GOOGL.US
Alphabet Inc Class A
- Last
- $347.64
- 1D
- -1.74%
- Weight
- 10.0%
- Contribution
- -0.17%
META.US
Meta Platforms Inc.
- Last
- $737.54
- 1D
- -3.27%
- Weight
- 10.0%
- Contribution
- -0.33%
MSFT.US
Microsoft Corporation
- Last
- $533.69
- 1D
- -1.80%
- Weight
- 10.0%
- Contribution
- -0.18%
NFLX.US
Netflix Inc
- Last
- $70.57
- 1D
- +0.16%
- Weight
- 10.0%
- Contribution
- +0.02%
NVDA.US
NVIDIA Corporation
- Last
- $221.30
- 1D
- -3.16%
- Weight
- 10.0%
- Contribution
- -0.32%
ORCL.US
Oracle Corporation
- Last
- $130.55
- 1D
- -8.83%
- Weight
- 10.0%
- Contribution
- -0.88%
TSLA.US
Tesla Inc
- Last
- $367.16
- 1D
- -2.15%
- Weight
- 10.0%
- Contribution
- -0.22%
Last price shown at full precision. Contribution is each holding's weight times its one-day move. A dash marks data pending after the latest end-of-day refresh.
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Equal weighted. Equal-weighted basket seeded from the largest US-listed technology and internet companies by market capitalization, screened nightly from end-of-day data. Active US common stocks only, with a market cap of at least USD 500 million and a 90-day average daily value traded of at least USD 2 million, top 20 by market cap. NVDA and AVGO are also seeded in US Semiconductors.