SPDR S&P 500 ETF Trust Faces Fund Outflows Despite Stock Gains

SPDR S&P 500 ETF Trust ( $SPY ) has risen by 0.95% in the past week. It has experienced a 5-day net outflow of $11.31 billion.
This is due, in part, to market sentiment on some of the ETF’s largest holdings. For example:

• Nvidia Corporation has experienced a significant surge in its stock value, climbing 94% since April, driven by the lifting of export restrictions to China and strategic deals in the Middle East and Europe. The U.S. Commerce Department’s decision to allow Nvidia to export its H20 chips to China is expected to further boost revenue. As Nvidia approaches its Q2 FY 2026 earnings report, analysts project a 47% increase in earnings per share and a 52.3% rise in revenue, reflecting strong market positioning. Investor Bohdan Kucheriavyi remains optimistic, viewing the stock as undervalued despite recent gains, and Wall Street maintains a Strong Buy consensus.
• Microsoft is making strategic moves in the AI and gaming sectors, backing OpenAI’s launch of the advanced GPT-5 model and collaborating with AMD to develop new SoC technology for Xbox devices. These initiatives are part of Microsoft’s broader strategy to enhance its Game Pass service and expand into the gaming PC market. Analysts have a Strong Buy consensus on Microsoft stock, with a projected 19.8% upside potential, highlighting the company’s commitment to innovation and growth in tech and gaming industries.
• Apple Inc has announced a $100 billion investment in U.S. manufacturing, which has been well-received by Wall Street, with analysts like Dan Ives praising the move as a strategic alignment with domestic investment goals. This investment aims to strengthen Apple’s manufacturing footprint and potentially avoid new tariffs. Despite challenges in U.S. manufacturing due to high costs, Apple’s stock has seen positive momentum, and analysts maintain a Moderate Buy consensus with a projected 41.35% upside, reflecting confidence in the company’s long-term growth potential.