The S&P Technology, Media, and Telecom sector is up to a record ~47% share of the total S&P 500 market cap.

This is even ABOVE the peak levels seen during the 2000 Dot-Com bubble.

TMT share has risen ~12 percentage points since 2023.

After the 2000 bubble burst, this weight collapsed to ~20% by 2002.

This comes as mega-cap tech stocks continue to dominate US stock market performance.

We are back at bubble-era concentration levels.