SpaceX Joined 6 Stocks in the $2 Trillion Club. Here's My Top Pick for July.

Before the end of its first trading day on the Nasdaq, Elon Musk's Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, had joined an elite club: stocks with at least $2 trillion in market capitalization.

The club is so exclusive that only six other stocks belong to it. And unlike SpaceX, most of them underperformed in June. Here's my pick for the best one to buy in July.

Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue "

Biggest of the big

The seven largest stocks in the world are currently:

*Data as of market close on 6/29/2026. **SpaceX performance since Nasdaq debut at $150/share on 6/12/2026.

Aside from TSMC and, of course, SpaceX, all of these huge companies saw big share price declines over the past month. One big reason? Ongoing concerns about how they might be impacted by the current memory shortage.

Memory loss

High-end memory chips for dynamic random access memory (DRAM) and N-AND flash memory (NAND) are in very short supply, and as a result, they've gotten much more expensive. Yet DRAM and NAND are critical for AI applications and for many consumer devices, such as smartphones and laptops.

For Apple, more expensive DRAM and NAND chips mean the company has to accept thinner product margins for its devices that include DRAM and NAND, like iPhones and MacBooks, or pass that cost along to consumers. It had been absorbing the costs, but this month announced it would have to pass the costs on and raised prices on many of its products. Investors punished the stock, concerned that higher costs would hurt sales.

For Alphabet, Microsoft, and Amazon, the memory shortage means they'll have to pay more for memory chips for their AI data center build-outs. These "hyperscalers" are already incurring massive AI capital expenditures, which are likely to increase even further in the short term as memory gets more expensive. The market is worried the costs won't justify the eventual benefits.

I think these concerns are likely to persist in the short term, which is why I'm not picking any of these stocks as my top July pick.