# The S&P 500 is still rallying, but the names driving the biggest gains look very different.

*semiconductor · news · 2026-05-04 · Benzinga*

## Key points

- No Magnificent 7 stock was in the S&P 500's top 100 performers until Alphabet's recent gain.
- Value stocks now outnumber growth stocks among the S&P 500's top 50 year-to-date performers.
- Top S&P 500 performers include infrastructure companies like Seagate, Vertiv, and ON Semiconductor.
- Market gains are concentrated in firms supplying storage, power, and data center infrastructure for AI.
- J.P. Morgan notes S&P 500 index-level strength hides a shift in market leadership.

**Companies:** Alphabet, Nvidia, Apple, Seagate Technology, Vertiv Holdings, ON Semiconductor
**Countries:** United States

[Read the full story on Benzinga](https://www.benzinga.com/markets/tech/26/05/52254624/nvidia-apple-tesla-are-shut-out-of-sp-500s-new-ruling-class)

---

Canonical: https://newsio.io/n/61c7c8e1-70b4-425d-af88-bbc2b9ef586f/the-sp-500-is-still-rallying-but-the-names-driving-the-biggest-gains-look-very-d
Summarized by Newsio from Benzinga. https://newsio.io/how-it-works