(Bloomberg) -- When Americans gather around the Thanksgiving table this week, the blistering rally in technology, electric vehicles and crypto-related stocks is likely to be a part of their conversations.

There’s a reason it will dominate the small talk: The tech-heavy Nasdaq 100 is now worth almost half as much as the benchmark S&P 500 -- the highest ever -- and the megacap tech stocks alone represent a third of the S&P 500. Nvidia Corp. and Roblox Corp.’s sprint stood out in a year when the rest of the big tech names jogged to new highs, defying several calls to sell the sector around last year’s thanksgiving due to soaring valuations.

Here some of the hottest stocks and themes since last Thanksgiving:

Hot Chips

Chipmaker Nvidia has soared 148% as booming chip demand and a foray into the metaverse made it the best performer on the Nasdaq 100. Applied Materials Inc. and Advanced Micro Devices Inc. were other winners, each rising about 80% and outperforming many of the megacap tech stocks.

Surging EV Makers

Tesla Inc. soared to a $1 trillion market value as the electric-carmaker’s shares doubled in value, driven by a sustained pickup in sales, even as part shortages were crippling the broader auto industry. EV fever was even more evident with Rivian Automotive Inc., which doubled in value in less than two weeks after going public. Lucid Group Inc. was the sector’s other hot name.

Metaverse Mania

Roblox’s tripling of value from its March listing to Facebook’s name change to Meta Platforms Inc. showed the metaverse was the next big thing in tech. The rush to the space was evident with the Roundhill Ball Metaverse ETF, an exchange traded fund focused on the theme, surpassing $500 million in assets under management on Nov. 17, having doubled in just two weeks.

Cryptocurrency Craze

From the digital world to digital money: Bitcoin briefly reclaiming $60,000 and a rally in smaller cryptocurrencies boosted a host of related stocks such as Marathon Digital Holdings Inc., Riot Blockchain Inc. and MicroStrategy Inc. Marathon Digital was among the top winners, with its stock jumping ten-fold.

Don’t Forget FAANGs

Retail investors who stuck with big names haven’t done badly either. The likes of Microsoft Corp., Alphabet Inc. and Tesla Inc., have alone added a whopping $3.5 trillion in 2021, while the NYSE FANG+ Index is up about 39% since last Thanksgiving.

While those numbers are impressive, some say valuations do seem stretched. Tech stocks haven’t been this expensive since the Internet bubble of the late 1990s and many investors remain cautious.

“Let’s all be thankful for the tremendous returns we’ve seen in tech stocks and numerous other areas of the market this year, but not forget that a slice of humble pie may be what we’re eating next year if we’re too certain of our predictions to come,” said Matt Carvalho, chief investment officer of Cardinal Point Wealth.

Tech Chart of the Day

Top Tech Stories

  • India’s Paytm plummeted for a second day after its IPO, marking one of the worst debuts ever by a major technology company
  • Prosus said analysts have valued its global portfolio of e-commerce assets at about $50 billion, excluding the stake in Tencent
  • JD.com Inc. and NetEase Inc.’s tracking by MSCI via their Hong Kong shares rather than American Depositary Receipts might reinforce a gradual shift in liquidity away from the U.S. for Chinese stocks
  • Contemporary Amperex, a Tesla battery supplier, hit a fresh record to become China’s second-largest company listed onshore
  • Activision Blizzard’s CEO said he’d consider leaving if he’s unable to quickly fix culture problems, Dow Jones reported
  • Ericsson is to buy Vonage Holdings for $5.3 billion as it strives to build market presence in cloud communications services

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