In fact, this data is also the reason why I am optimistic about $CRCL, but did not buy CRCL immediately. It's not that it is bad, but there are better targets. The largest 7 companies in the S&P 500 (NVDA, AAPL, MSFT, GOOGL, AMZN, AVGO, META) account for a significant portion of earnings in various sectors.
In the information technology sector, these 7 companies contribute 67% of the sector's earnings.
In the communication services sector, these 7 companies contribute 65% of the sector's earnings.
In the consumer discretionary sector, these 7 companies contribute 35% of the sector's earnings.
In the entire S&P 500, these 7 companies contribute 26% of the sector's earnings.
The concentration of earnings in the index has become extreme. The S&P 500 appears to consist of 500 companies, but over 25% of the earnings come from 7 companies, and they are concentrated in the same main line, which is technology + AI.
It is clear that the main earnings now are in the technology + AI field, and funds are also concentrated in this area. Therefore, technology + AI is equivalent to Bitcoin in the crypto space. At least according to my investment logic, in a poor market, the investment should definitely focus on $BTC.
Currently, CRCL has a market capitalization of approximately $19.33 billion, Coinbase has a market capitalization of $68.37 billion, and Robinhood is at $107 billion. If choosing among these three, Coinbase has a chance to reach Robinhood's market cap, especially since Coinbase's compliance is increasingly resembling that of Robinhood. In the future, it is very likely that it will be able to trade cryptocurrencies as well as stocks and bonds.
As for CRCL's calm valuation, I don't quite understand how it could exceed half of Coinbase's, of course, this is limited to the present. If CRCL can find a better profit model, I believe there is great potential.
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