Semiconductors have grown from 10% to 18% of the S&P 500 in just two years, and this concentration is concerning because semiconductors are historically one of the most cyclical and capital-intensive sectors, yet the entire industry is now seeing capital intensity levels so extreme that they would 'make steel makers blush with embarrassment.'
factualpending
Speaker
Louis GavkEvidence Quote
“in the US semiconductors are now 18% of the index...the capital intensity of the semiconductor industry would make steel makers blush uh with embarrassment”
Source
There's Going To Be One Hell Of A Hangover When The Market Party Ends | Louis Gave— Adam Taggart | Thoughtful Money®Created: 8/12/2026, 6:25:43 PM
My Notes
Loading notes...