Three memory firms driving a huge chunk of index performance
The memory melt-up has done far more than add another hot pocket to the AI trade. It has quietly become one of the market’s main engines. According to Bloomberg Markets Live strategist Simon White, just three memory firms have accounted for roughly a quarter of the S&P 500’s gains so far in 2026, an extraordinary concentration beneath what still looks, on the surface, like a broad equity advance.
Micron has been the standout. The stock alone has contributed about 1.4 percentage points to the S&P 500’s 8.3% return over the past six months, or roughly one-sixth of the index’s entire gain. That is an outsized contribution from a single company in a market that is supposed to represent 500 of America’s largest businesses…
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