The S&P 500 added more than $9.7 trillion to investor portfolios in 2024 as the index hit record highs.

Notably, the Magnificent Seven stocks drove 53.1% of the index’s gains, underscored by AI enthusiasm and healthy earnings growth. Moreover, these megacap companies have cash reserves that significantly surpass the majority of other S&P 500 companies.

This graphic shows the S&P 500 sectors by their cash holdings, based on data from J.P. Morgan Asset Management

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