The AMD vs Intel vs Micron debate is the most-watched semiconductor investing question of 2026. Each name plays a different role in the AI buildout and carries a different risk profile. Hyperscalers are on pace to spend roughly $700 billion on AI infrastructure this year, flowing through these three businesses in very different shapes. This guide compares AMD, Intel, and Micron across mix, margins...
The AMD vs Intel vs Micron debate is the most-watched semiconductor investing question of 2026. Each name plays a different role in the AI buildout and carries a different risk profile. Hyperscalers are on pace to spend roughly $700 billion on AI infrastructure this year, flowing through these three businesses in very different shapes. This guide compares AMD, Intel, and Micron across mix, margins, catalysts, and risk, then ranks the 2026 setup tier by tier. Business Mix Compared The three names sit at very different points of the semiconductor value chain, which matters more than headline growth rates. AMD: fabless AI challenger AMD designs CPUs and GPUs and outsources manufacturing to TSMC. Data Center now dominates, with the MI350 ramping as the fastest product in company history. Q1 2026 revenue hit roughly $10.3 billion, up 38% year-over-year. Intel: integrated foundry rebuild Intel is the only US-based leading-edge foundry. It both designs chips and runs its own fabs. The 18A node is its make-or-break product, and Apple and TeraFab are anchor external customers under CEO Lip-Bu Tan. Micron: memory pure-play Micron makes DRAM, NAND, and HBM stacks for AI accelerators. Cloud Memory revenue jumped from $2.95 billion to $7.75 billion year-over-year. Fiscal Q1 2026 revenue hit a record $13.64 billion, up 57%, fueled almost entirely by HBM demand. Margins, ROIC, and Capex Cycles Profitability and capital intensity are where the three businesses really diverge for investors. Gross margin profile AMD guided gross margin near 54% for 2026, below Nvidia's roughly 70% but healthy for a fabless designer. Micron's non-GAAP gross margin jumped 11 points quarter-over-quarter to 56.8%. Intel's margin remains pressured by foundry ramp costs. Until 18A volume normalizes, reported margins understate long-run earnings power. Capex and free cash flow Intel runs the heaviest capex line, with multi-year fab buildouts in Arizona, Ohio, and Israel. AMD's capex is light because TSMC ca...
Key Points If you claim Social Security at 62 and your full retirement age is 67, your monthly benefits will be reduced by about 30%. When you don't have other income to fall back on, an early Social Security claim becomes dangerous. When you have plenty of savings and want to enjoy your benefits to the fullest, it pays to take them as soon as you're able to. The $23,760 Social Security bonus most...
Key Points If you claim Social Security at 62 and your full retirement age is 67, your monthly benefits will be reduced by about 30%. When you don't have other income to fall back on, an early Social Security claim becomes dangerous. When you have plenty of savings and want to enjoy your benefits to the fullest, it pays to take them as soon as you're able to. The $23,760 Social Security bonus most retirees completely overlook › If there's one big decision retirees tend to wrestle with, it's when to sign up for Social Security. Once you turn 62, you're free to claim retirement benefits at any time. But if you don't wait until full retirement age, those checks will be reduced. Full retirement age is 67 for people born in 1960 or later. And in that case, filing for Social Security at 62 means shrinking your monthly benefits by about 30%. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » For the most part, that's a bad decision if you don't have retirement savings or any non-Social Security income to fall back on during your senior years. But in one specific scenario, filing as early as possible could make a ton of sense. When the money is extra and you want to enjoy it While it's true that many people end up retiring with little to no savings, you might be someone who's been funding an IRA or 401(k) since you started collecting a full-time paycheck. If you contributed to one of these accounts steadily throughout your entire career, there's a good chance you're sitting on a few million dollars right now. That means a couple of things. First, it means that Social Security will probably end up being a secondary source of retirement income for you, so a 30% hit to your monthly checks may not sting. Second, if you've managed to accumulate a few million dollars in retirement savings, it means you probably wo...
Outcrop Silver & Gold ( OCGSF ) ( OCG:CA ) acquired 15M common shares of Applied Graphite Technologies ( AGT:CA ) ( AGRTF ) at a price of C$0.10 per share in a share exchange transaction that closed on May 22, 2026. Outcrop now has beneficial ownership of around 17.87% of the issued and outstanding AGT shares. Prior to the transaction, Outcrop held no securities of AGT. The shares were issued from...
Outcrop Silver & Gold ( OCGSF ) ( OCG:CA ) acquired 15M common shares of Applied Graphite Technologies ( AGT:CA ) ( AGRTF ) at a price of C$0.10 per share in a share exchange transaction that closed on May 22, 2026. Outcrop now has beneficial ownership of around 17.87% of the issued and outstanding AGT shares. Prior to the transaction, Outcrop held no securities of AGT. The shares were issued from the treasury of AGT. More on Applied Graphite Technologies Corporation Financial information for Applied Graphite Technologies Corporation
Tippapatt/iStock via Getty Images Market Review Bonds were down fractionally. U. S. investment-grade bonds declined slightly in the first quarter, breaking their four-quarter string of gains. The volatile period included renewed tariff concerns, a Federal Reserve (Fed) policy pause, mixed economic data, war in Iran and soaring oil prices, which provoked inflation worries. Economy was uneven. Last ...
Tippapatt/iStock via Getty Images Market Review Bonds were down fractionally. U. S. investment-grade bonds declined slightly in the first quarter, breaking their four-quarter string of gains. The volatile period included renewed tariff concerns, a Federal Reserve (Fed) policy pause, mixed economic data, war in Iran and soaring oil prices, which provoked inflation worries. Economy was uneven. Last year's government shutdown weighed on fourth-quarter gross domestic product, which expanded at an annual pace of only 0.5%. Manufacturing remained expansionary but slowed slightly in the first quarter, while the services sector contracted in March for the first time in more than three years. The job market rebounded strongly in March, and the unemployment rate inched lower to 4.3%. Fed left rates unchanged. The Fed's dual focus on inflation, which remained above target, and the labor market, which stabilized, resulted in rates staying unchanged in the quarter. The target short-term lending rate remained 3.5% to 3.75%. Amid growing uncertainty regarding the economy, inflation and geopolitics, the Fed and the market tempered expectations for future rate cuts. Treasury yields rose. Treasury yields were volatile and ended the period higher. Yields declined through February and reversed course in March, as oil prices and inflation expectations surged. The two-year Treasury yield ended March at 3.81%, up 0.33% for the quarter. The yield on the 10-year Treasury rose 0.15% to 4.32%. The yield curve between two and 10 years flattened. Inflation persisted. Inflation remained unchanged in the quarter. However, personal consumption expenditures edged higher in January. Overall, inflation expectations increased, and Treasury inflation-protected securities ( TIPS ) advanced and outperformed nominal Treasuries. Sector results were mixed. Mortgage-backed securities, which advanced modestly, posted a gain in the quarter. Treasuries, which barely lagged the benchmark, outperformed investment...
The stock market and the economy are not the same thing, but in 2026, they share one trait: skepticism. Despite blockbuster earnings reports from companies like NVIDIA NYSE: NVDA, Palantir Technologies NASDAQ: PLTR, and Alphabet NASDAQ: GOOGL, this may be the most reluctant bull market in history. That doesn’t mean investors are leaving the market, but the concentration of market winners is still ...
The stock market and the economy are not the same thing, but in 2026, they share one trait: skepticism. Despite blockbuster earnings reports from companies like NVIDIA NYSE: NVDA, Palantir Technologies NASDAQ: PLTR, and Alphabet NASDAQ: GOOGL, this may be the most reluctant bull market in history. That doesn’t mean investors are leaving the market, but the concentration of market winners is still not broadly expanding to other sectors. The recent retail earnings reports aren’t going to change that. On the surface, the consumer looks resilient. The retail sales data continues to at least meet, if not exceed, expectations. However, all may not be as it seems. Retail giants like Walmart Inc. NASDAQ: WMT, Home Depot NYSE: HD and TJX Companies NYSE: TJX have been telling a cautious story. Get Target alerts: Sign Up Consumers are still spending, but with real intentionality. And since investors are also consumers, it may be getting harder to separate the two. The investor deciding whether to add a retail stock to their portfolio and the shopper deciding whether to remodel their kitchen are, increasingly, the same person making the same calculation: is now the right time to commit? How Consumers Are Actually Spending The word "choiceful" has become part of the retail lexicon. Walmart used it explicitly on its Q1 earnings call to describe a customer who is still showing up but making sharper trade-offs at every price point. Management also pointed to consumers shifting toward private-label brands, even among higher-income consumers. Walmart Today WMT Walmart $120.27 0.00 (0.00%) 52-Week Range $93.43 ▼ $135.15 Dividend Yield 0.82% P/E Ratio 42.20 Price Target $138.71 Add to Watchlist Home Depot offered one of the more telling data points of the earnings season: same-store sales growth remained modest, with customers completing smaller repair and maintenance projects while continuing to defer large remodels. Lowe's NYSE: LOW also spoke of a consumer who is engaged but not con...
Upgrade Now This premium article is available to MarketBeat All Access subscribers only. Log in to your account or sign up below. Upgrade Now See Benefits Already have an account? Log in here. Before you consider Walmart, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis....
Upgrade Now This premium article is available to MarketBeat All Access subscribers only. Log in to your account or sign up below. Upgrade Now See Benefits Already have an account? Log in here. Before you consider Walmart, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Walmart wasn't on the list. While Walmart currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
From 15m ago 08.54 BST Iran says progress on many issues with US but agreement not 'imminent' The Iranian foreign ministry spokesperson Esmail Baghaei has been speaking at a news briefing about the contours of a potential deal with the US to end the war. “It is correct to say that we have reached a conclusion on a large portion of the issues under discussion,” he said. “But to say that this means ...
From 15m ago 08.54 BST Iran says progress on many issues with US but agreement not 'imminent' The Iranian foreign ministry spokesperson Esmail Baghaei has been speaking at a news briefing about the contours of a potential deal with the US to end the war. “It is correct to say that we have reached a conclusion on a large portion of the issues under discussion,” he said. “But to say that this means the signing of an agreement is imminent – no one can make such a claim.” A potential deal reportedly includes a 60-day ceasefire extension, reopening the strait of Hormuz to international vessels and a plan for further negotiations over Iran’s much contested nuclear programme. However, the deal has to be approved by Iran’s leadership, including the apparently hard to reach supreme leader Mojtaba Khamenei, which could take some time. Share 1h ago 07.58 BST Iran’s top negotiator in talks with the US, Mohammad Bagher Qalibaf, has been reelected as the country’s parliamentary speaker, semi-official Fars news agency reported on Monday. View image in fullscreen Mohammad Bagher Qalibaf Photograph: Amr Abdallah Dalsh/Reuters Share 1h ago 07.47 BST During military conflict Iran’s tactic was “an eye for an eye,” and in diplomatic conflict it is “action for action“, Ebrahim Rezaei, the spokesperson of the Iranian parliament, has said. In a posting on X on Monday, he said: double quotation mark During the military war, our tactic was an eye for an eye; in the diplomatic war, it is action against action. Do not believe the bluff of the failed president; time is against the Americans. If they want an agreement, they should negotiate; if they want $6 gas, they should stand firm and bluff until the grass grows under their feet. Iran does not bow to force or threats. Share 2h ago 07.35 BST Iran executed a man over charges related to the anti-government protests that took place nationwide in January, state media reported on Monday. The individual was identified as Abbas Akbari, Reuters cited...
Heat exhaustion can turn into heatstroke, which is a medical emergency. It means your body can no longer manage the heat and your core temperature is rising too high. You should get urgent medical help.
Heat exhaustion can turn into heatstroke, which is a medical emergency. It means your body can no longer manage the heat and your core temperature is rising too high. You should get urgent medical help.
(RTTNews) - Mitsubishi Chemical Group Corporation (4188.T) announced that Mitsubishi Chemical Corporation, its subsidiary, has begun considering the spin-off of its basic chemicals business, which is primarily focused on petrochemicals, as a wholly owned subsidiary. The company targets to implement the spin-off by the end of the fiscal year ending March 31, 2028. Mitsubishi Chemical Group said it ...
(RTTNews) - Mitsubishi Chemical Group Corporation (4188.T) announced that Mitsubishi Chemical Corporation, its subsidiary, has begun considering the spin-off of its basic chemicals business, which is primarily focused on petrochemicals, as a wholly owned subsidiary. The company targets to implement the spin-off by the end of the fiscal year ending March 31, 2028. Mitsubishi Chemical Group said it will aim to enhance business competitiveness through mergers and industry-wide restructuring, leading the structural transformation of the chemical industry towards decarbonization and circularity. Mitsubishi Chemical Group shares are trading at 1,090 yen, up 6.03%. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Joe Hendrickson/iStock Editorial via Getty Images NEW YORK (May 23) - We've written about Shake Shack for over a decade in these pages. We were origingally enthusiasts in 2016, and were rewarded wity our optimism with α - level returns in several subsequent quarters as illustrated here: Y Charts Our enthusiasm was ameliorated over subsequent quarters because SHAK had proven to be unable to provide...
Joe Hendrickson/iStock Editorial via Getty Images NEW YORK (May 23) - We've written about Shake Shack for over a decade in these pages. We were origingally enthusiasts in 2016, and were rewarded wity our optimism with α - level returns in several subsequent quarters as illustrated here: Y Charts Our enthusiasm was ameliorated over subsequent quarters because SHAK had proven to be unable to provide a consistent, uniform, customer experience as it grew to scale. Eight years after we wrote “ There’s a Crack in the Shack” , highlighting the chain’s inconsistencies and means to ameliorate the shortcomings, they remain unaddressed, despite a changeover in the SHAK C-Suite. In fact, some people purporting to be former employees say things have gotten worse. This author, a restaurant reviewer for “ NJ.com ”, reiterated our view that the brand was inconsistent, noting in 2022 a significant departure from “one of the best fast-food burger experiences of my life” when the chain first opened in NJ to something far less as the chain built out its footprint in the state. Eight months ago, this Reddit contributor, referencing SHAK founder Danny Meyer and former COO Zachary Koff, and purporting to be a “ former GM”, wrote, “It’s not fine dining anymore, it’s basically McDonald’s. Once Danny and Zach left, everything went downhill.” Even reviews at the SHAK founding location from last summer leave a bit to be desired, as this video reviewer relates. (Fast forward to the 18 minute mark). Is Shake Shack STILL GOOD? Original NYC Madison Square Park Location Review! And to correct the video reviewer, inconsistent food quality is most definitely not "typical fast food". The quintessential "fast food", McDonald's, tastes the same in Manhattan, where I live, and in Asia, where I was this past winter. Comments on the video reiterate the inconsistent message of the video reviewer. SHAK purports to be "casual dining", an upper scale of fast food, so it's consistency should well exceed that of...
The majority of the 42 athletes taking part used performance-enhancing substances and Enhanced Games said "13 athletes set personal bests". The event was played out in front of a curated crowd of around 2,500, with tickets not on sale to the general public. On the track, American former world champion Fred Kerley - one of the athletes competing 'clean' - won the men's 100m in 9.97 seconds, which w...
The majority of the 42 athletes taking part used performance-enhancing substances and Enhanced Games said "13 athletes set personal bests". The event was played out in front of a curated crowd of around 2,500, with tickets not on sale to the general public. On the track, American former world champion Fred Kerley - one of the athletes competing 'clean' - won the men's 100m in 9.97 seconds, which was short of his personal best of 9.76. British swimmer Ben Proud, who won silver in the men's 50m freestyle at the 2024 Paris Olympics, triumphed in the 50m butterfly, clocking 22.32 seconds. That was 0.05secs short of Andrii Govorov's world record but faster than his personal best - and British record time - of 22.74 seconds. "We all know what we came for. And that's world records. And so to be that agonizingly close, it's frustrating," Proud said. Another British Olympic swimmer, Emily Barclay, won the women's 50m freestyle in 24.09, around half a second slower than the world record. Weightlifter Hafthor 'Thor' Bjornsson, who played The Mountain in TV show Game of Thrones, was another taking part but was unable to break his own deadlift record of 510kg. Drugs used at the Enhanced Games must be legal and approved by the US Food and Drug Administration (FDA). They include testosterone, growth hormone, peptides, anabolic steroids and other substances banned in sport. Those behind the event argue enhancement already exists in elite sport, but secretly and without transparency, and say bringing it into the open where it can be monitored makes it safer. However many sporting governing bodies have publicly rebuked athletes for choosing to compete in the games and some sporting governing bodies have banned athletes for taking part. The IOC and Wada have described the Enhanced Games as "immoral" and "a dangerous and irresponsible concept", while World Athletics president Lord Coe said anyone taking part was "moronic". The project was founded by entrepreneurs Aron D'Souza and Maxim...
remotevfx Digital asset ETFs experienced heavy selling pressure last week as Bitcoin ( BTC-USD ) briefly dipped near $75K amid rising macro uncertainty and bond market stress. From May 18 to May 22, spot Bitcoin ETFs recorded $1.26B in net outflows, according to SoSoValue . BlackRock ’s iShares Bitcoin Trust ( IBIT ) led the outflows with $1.01B withdrawn, followed by Fidelity Investments ’s Fidel...
remotevfx Digital asset ETFs experienced heavy selling pressure last week as Bitcoin ( BTC-USD ) briefly dipped near $75K amid rising macro uncertainty and bond market stress. From May 18 to May 22, spot Bitcoin ETFs recorded $1.26B in net outflows, according to SoSoValue . BlackRock ’s iShares Bitcoin Trust ( IBIT ) led the outflows with $1.01B withdrawn, followed by Fidelity Investments ’s Fidelity Wise Origin Bitcoin Fund ( FBTC ) with $111.51M in outflows. Spot Ethereum ETFs also faced pressure, recording $215M in net outflows during the week. BlackRock’s iShares Ethereum Trust ( ETHA ) saw $189.35M in outflows, while Fidelity Ethereum Fund ( FETH ) lost nearly $21M, data showed. Meanwhile, investors continued rotating into alternative crypto products. Spot Solana ( SOL-USD ) ETFs recorded $15.63M in net inflows, spot XRP ( XRP-USD ) ETFs added $22.04M, while 21Shares Hyperliquid spot HYPE ETFs ( THYP ) attracted $72.38M. While no direct reason was officially cited, the outflows came during a week of heightened geopolitical and macro uncertainty, after U.S. President Donald Trump emphasized ongoing negotiations with Iran but said the deal was “not fully negotiated yet,” while the U.S. 30-Year Treasury yield climbed to 5.20%, its highest level since 2007.” Despite the weekly crypto outflows, BlackRock's ( BLK ) CEO, Larry Fink, reportedly renewed his pro-crypto stance in a recent interview, urging the SEC to rapidly approve tokenization of bonds and stocks. More on Bitcoin USD, BlackRock, etc. A Final Path To Peace? Markets Weekly Outlook Bitcoin: The Next Leg Down Could Be Near (Rating Upgrade) VanEck Mid-May 2026 Bitcoin ChainCheck Oil slides, stocks rise as markets bet on Hormuz breakthrough SEC delays tokenized stock trading plan: blood-red session for BTC, ETH, SUI, and more
Former Avago Taiwan engineer indicted over alleged trade secret leaks Staff writer, with CNA A former engineer at Avago Technologies Taiwan Ltd has been indicted for allegedly leaking the company's trade secrets, including client orders and executive meeting materials, the Taipei District Prosecutors' Office said today. The former employee, surnamed Lee (李), was charged with breaching the Trade Se...
Former Avago Taiwan engineer indicted over alleged trade secret leaks Staff writer, with CNA A former engineer at Avago Technologies Taiwan Ltd has been indicted for allegedly leaking the company's trade secrets, including client orders and executive meeting materials, the Taipei District Prosecutors' Office said today. The former employee, surnamed Lee (李), was charged with breaching the Trade Secrets Act (營業秘密法) and related offenses following an investigation triggered by an internal whistle-blower report. The main entrance to the Taipei District Prosecutors’ Office is pictured in an undated photograph. Photo: Taipei Times Lee worked at the company from August 2012 to March last year as an application engineer and a regional sales engineer in the semiconductor solutions division, among other positions, prosecutors said. Avago Taiwan is a subsidiary of Broadcom Inc, a global semiconductor and infrastructure software company headquartered in California. Lee allegedly used a company-issued laptop to access Avago's client order analysis system without authorization while he was employed there, prosecutors said. He is accused of downloading and reproducing trade secrets, including customer orders, financial forecasts, product development schedules, client lists and operational data, which he later compiled into lecture material for use at paid seminars, they said. Investigators also alleged that Lee illegally reproduced internal meeting videos and presentation slides from quarterly briefings hosted by Broadcom president and CEO Hock E. Tan and Charlie Kawwas, the president of the company's semiconductor solutions group. Lee used screenshots and recordings to create files for his seminar presentations, prosecutors said. Between January 2024 and March last year, Lee allegedly held 85 seminars at venues across Taipei at the invitation of other companies, prosecutors said. At the events, Lee allegedly presented himself as a "Broadcom expert" or "AVGO expert" and used the c...
FabrikaCr Eli Lilly ( LLY ) exited the largest 10 companies in the Russell 3000 Index/Russell 1000 Index, and Walmart ( WMT ) entered the list in the June 2026 semi-annual reconstitution of the Russell US indexes. FTSE Russell on Friday published its preliminary lists of companies expected to enter or exit the US broad market Russell 3000 Index and the Russell Microcap Index. The preliminary June ...
FabrikaCr Eli Lilly ( LLY ) exited the largest 10 companies in the Russell 3000 Index/Russell 1000 Index, and Walmart ( WMT ) entered the list in the June 2026 semi-annual reconstitution of the Russell US indexes. FTSE Russell on Friday published its preliminary lists of companies expected to enter or exit the US broad market Russell 3000 Index and the Russell Microcap Index. The preliminary June 2026 reconstitution shows a significant expansion in the US equity market, with the total market capitalization of the Russell 3000 Index rising 29% from $58.4T at last year’s rebalance to $75.6T as of the April 30 rank day. The composition and rankings of the 10 largest US companies shifted over the past year. Nine of the ten largest companies remained in the index, with Walmart replacing Eli Lilly as the only new entrant. Nvidia ( NVDA ) rose to become the largest company, with its market capitalization surging 82.5%. Alphabet ( GOOG ) ( GOOGL ) delivered the strongest year-over-year increase among the top 10, climbing from fifth to second place. Apple ( AAPL ) and Microsoft ( MSFT ) moved down to third and fourth, respectively, after occupying the top two positions in 2025. The scale of these companies continued to expand significantly, with all 10 largest companies now exceeding $1T in market capitalization, including five above $2T and four above $3T. By comparison, in 2025, seven companies exceeded $1T and only two surpassed $2T. The Magnificent Seven names also saw substantial growth, with their combined market capitalization increasing 49% to $22.4T from $15T in 2025. Largest 10 companies in the Russell 3000 Index/Russell 1000 Index by market cap: Nvidia ( NVDA ): market cap up 82.5% from 2025 Alphabet ( GOOG ): +141.9% Apple ( AAPL ): +24.8% Microsoft ( MSFT ): +3.1% Amazon ( AMZN ): +45.7% Broadcom ( AVGO ): +118.4% Meta ( META ): +12.1% Tesla ( TSLA ): +57.7% Walmart ( WMT ): +35.1% Berkshire Hathaway ( BRK.A ) ( BRK.B ): -11.2% More on the top constituents of th...
FabrikaCr Eli Lilly ( LLY ) exited the largest 10 companies in the Russell 3000 Index/Russell 1000 Index, and Walmart ( WMT ) entered the list in the June 2026 semi-annual reconstitution of the Russell US indexes. FTSE Russell on Friday published its preliminary lists of companies expected to enter or exit the US broad market Russell 3000 Index and the Russell Microcap Index. The preliminary June ...
FabrikaCr Eli Lilly ( LLY ) exited the largest 10 companies in the Russell 3000 Index/Russell 1000 Index, and Walmart ( WMT ) entered the list in the June 2026 semi-annual reconstitution of the Russell US indexes. FTSE Russell on Friday published its preliminary lists of companies expected to enter or exit the US broad market Russell 3000 Index and the Russell Microcap Index. The preliminary June 2026 reconstitution shows a significant expansion in the US equity market, with the total market capitalization of the Russell 3000 Index rising 29% from $58.4T at last year’s rebalance to $75.6T as of the April 30 rank day. The composition and rankings of the 10 largest US companies shifted over the past year. Nine of the ten largest companies remained in the index, with Walmart replacing Eli Lilly as the only new entrant. Nvidia ( NVDA ) rose to become the largest company, with its market capitalization surging 82.5%. Alphabet ( GOOG ) ( GOOGL ) delivered the strongest year-over-year increase among the top 10, climbing from fifth to second place. Apple ( AAPL ) and Microsoft ( MSFT ) moved down to third and fourth, respectively, after occupying the top two positions in 2025. The scale of these companies continued to expand significantly, with all 10 largest companies now exceeding $1T in market capitalization, including five above $2T and four above $3T. By comparison, in 2025, seven companies exceeded $1T and only two surpassed $2T. The Magnificent Seven names also saw substantial growth, with their combined market capitalization increasing 49% to $22.4T from $15T in 2025. Largest 10 companies in the Russell 3000 Index/Russell 1000 Index by market cap: Nvidia ( NVDA ): market cap up 82.5% from 2025 Alphabet ( GOOG ): +141.9% Apple ( AAPL ): +24.8% Microsoft ( MSFT ): +3.1% Amazon ( AMZN ): +45.7% Broadcom ( AVGO ): +118.4% Meta ( META ): +12.1% Tesla ( TSLA ): +57.7% Walmart ( WMT ): +35.1% Berkshire Hathaway ( BRK.A ) ( BRK.B ): -11.2% More on the top constituents of th...