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April 1, 2024 Investor Insights Thumbnail

April 1, 2024 Investor Insights

A Falling Apple

April 1, 2024

Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need and provides tips and tricks for making better investment decisions. 

  • At one time, Apple was the largest company in the world, accounting for more than 7% of the entire S&P 500. Given its size, some investors are worried about its recent underperformance. Since 2012, the S&P 500 has dropped nine of the 12 times Apple has fallen over a three-month period. 1
  • From 2013 through 2023, the number of US millionaires increased 62% to $5.5 million. Austin, TX and Scottsdale, AZ had the most growth, but New York City still boasts the most millionaires (350K). 2
  • March 23rd was the fourth anniversary of the stock market’s low point during the Covid pandemic. Since then, the S&P 500 has had an annualized total return of 25.6%. Only 35 stocks (out of the entire S&P 500) have declined since that low four years ago. 3
  • High mortgage rates and rising prices have now made it cheaper to rent rather than own a home in all 50 of the largest metros. This gap is widest in Austin, Texas, where the median monthly mortgage is $3,695, while the median rent is only $1,530. 4

Sources:

  1. Barrons – “Big Tech Stocks Are Back. They Can Carry the Market Even Higher”, Bespoke – “One Bad Apple”
  2. Henley & Partners “Worlds Wealthiest Cities”
  3. Bespoke – “One Bad Apple”
  4. Morningstar – “Renting is now cheaper than owning in all of America's 50 biggest metro areas”

*Past performance is not indicative of future performance

Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter. 

Glen Eagle Wealth, LLC is a member of FINRA, MSRB and SIPC 

Glen Eagle Advisors, LLC is a SEC Registered Investment Advisor 

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