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| What are this week’s market risks or opportunities? |
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| Several US companies have crossed the $1 trillion mark this year, with Micron the latest on an 18% Monday rally and Eli Lilly briefly joining on the strength of its weight-loss franchise. |
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| A few other US giants are already comfortable above the line (Nvidia, Apple, Berkshire Hathaway), alongside global names like TSMC. Most are AI plays. SpaceX joins on June 12 at a $1.75T valuation. |
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| Why care about names you may not even own? |
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| Because if your portfolio has any US exposure, these names are doing most of the work whether you bought them directly or not. |
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| The top 10 stocks in the S&P 500 are now over a third of the index, so most equity funds are leaning hard on this group. When they rip, that's why your account is up this year. When two or three of them have a bad week, the index follows them down. |
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| Knowing which names are pulling the weight is the first step before deciding what to add around them. |
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| Which trades should I consider? |
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| If the mega-caps are already in your index fund, the question is who joins them next. Here are six names in the next tier down from the $1T club: |
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The frontrunners (around $800B):
- AMD (NASDAQGS: AMD): +339.1% over the past year. The AI rocket.
- JPMorgan (NYSE: JPM): +13.6% over the past year. The steady grinder.
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The chasing pack (around $600B):
- Exxon Mobil (NYSE: XOM): +44.8% over the past year, tied to oil prices.
- Intel (NASDAQGS: INTC): +497.8% over the past year, with the stock price now above analyst targets.
- Visa (NYSE: V): -8.9% over the past year, the slowest of the group.
- Oracle (NYSE: ORCL): +16.5% over the past year, with capex and debt to manage.
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| AMD will probably get there first among the six. But at 339.1% in a year, a lot of the story is already in the price. |
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| Should I consider this trade? |
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| JPMorgan is the name that stands out. |
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| Its Q1 print on April 14 was strong: $50.5 billion in revenue, $5.94 in EPS against a $5.45 estimate, and net income up 13% to $16.5 billion. Investment banking fees jumped 28% year over year, and none of that depends on AI demand. |
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| The biggest event ahead is the SpaceX IPO, where JPM is co-leading as one of five bookrunners. |
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| That kind of fee event compounds a business that's already growing across lending, deposits, and asset management. |
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| Data correct to 27.5.2026 |
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