?? ?????? ???? ??????? ??? ???? 500 ????? ?????? ????? ?????? ??? ??????? ?? 2025?

??? ?????? ???? ??????? ??? ???? 500 ????? 27% ??? ????? ????? ??? ????? ???? ?????? ??? ????? ????? ??? 2023 ??????? 23% ???????? ???????? ????? ??? ?? ????? ?????? ???? ????? ???? ?????? ????? 20% ??? ????? ?? ????? ??????? ??? ??? 1995 ??? ??? 1998 ????? ???? ????????.

?? ????? ???? ??????? ??? ???? ??????? 58% ????? ???? ??????? ??? ????? ??? 2022 ????? ?? ????? ?????? ???? ????? ?? ?? ????? ??? ????? ??????????? ??? ?????? ???? ???? ???? ??????? ??? ???? ?????? ????? ??? ?? ?????? ???? ????? ??????? ???????? ???? ???? ???? ?????? ????????? ?? ???? ??????????? ??????? ??? ???? ????? ??? ?????? ????? ???????? ?????? ????? ???? ?? 150% ??? ????? ??? 2022.

???? ???? ?????? ??????? ?? ????? ???? ??????? ??? ???? 500 ?????? ????????? ????? ????? ?????? ??? ??????? ??? ?????? ????????? ????? ???? ??????? ??????? ????? ?????? ??????? ????? ??? ??????? ?? ????? ???? ????? ?????? ????????? ??????? ??? 6500 ???? ????? ????? ??? 2025 ?????? ????? ????? 9% ?? ?????? ?????? ????? ?????? ????? 10% ??? ?? ??? ???????? ??? ??? "????? ??????" ???? ?????????? ?????? ????????? ?? ??????? ????? ??? ??????? ?? ???? ??????? ????? 11% ?? ??? 2025 ? 7% ?? ??? 2026? ??? ??? ?????? ???? ????? ???? 2024?? ?????? ?????????? ??? ?????? ?? ???? ?????? ??? 2025 ?? ?????? ?????? ????????? ??? ???? ???????? ??? ???????? ???????? ????? ???? ???? 2.4 % ?? ??? 2025.

?? ?? ???????? ????? ??????? ??? ???? 500 ?? ??? 2025?

?? ??????? ?? ???? ??????? ??????? ?????? ??????? "?????? ?????" ????? ?????? ????? ??????? ?????? ??????? ??? ???????? ????????? ????????? ???????? ?? ????? ?? ??? ??????? ?????? ?????? ??? ????????? ???????? ??? ?????? ????? ??????.

????? ?????? ??????? ????? ????? ??? ??????? ??????? (??? ????? ??????) ????? ??? ?????? ?? ??? ?????? ?????? ???????? ??????? ???????? ??????? ???? ???????? ????? 5% ????? ??????? ??? ???? 500 ?????? ?? ?????? ????? ???????? ???? ?????? ?????? ???????? ??????? ????? 2.5% ?????? ?????? ??? 2.4 % ????? ????? ????? ??????.

????? ??????? ??????? ???? ??????? ??? ??? ????? ??????? ??? ???? 500 ????? 2025 ? 2026 ?? 268 ????? ? 288 ?????? ?? ????? ????? ??? ????????? ?????? ????? ???????? ????????? ??? ???? ?????? ??????????? ??? ????? ????? ????? ??? ??????? ????? ??????? ??? ???? 500 ????? 25% ???? ??????? ????????.

?? ?? ??????? ???????? ???? ???? ?????? ????????? ????? ???????

???? ??????: "?? ??? ?????? ???? ???? ?????? ????? ????? ??????? ????? ??????? ????? ???? ????? ???? ??? ??? 2025"? ???? ?? ????????? ???????? ?? ?????? ????? ???????? ?? ????? ??????? ?????? ???? ???? ?? ??? ???????? ????? ????? ???? ???? ?????.

????? ??????? ???????? ????? ???????? ????? ??????? ???? ???????? ????? ???????? ???????? ?? ????? ???? ?????? ??????? ??? ????????? ??????? ?? ??????? ???????? ???? ???? ??? ?? ??????? ???? ???? ??? ??? 2025? ??? ?? ??? ??????? ??????? ???? ?????? ?????? ????? ???????? ?????? ?????? ???????? ???? ?????? ?????? ?? ???? ???? ???? ???? ?? ??????? ??????? ?? ????? ???? ??????? ?? ????? ????????? ????????? ??? ????? ????.

????? ??????: "????? ????? ????? ?? ?????????? ??? ?? ???????? ?? ????? ???????? ???????? ????????? ?? ?????? ?????? ?? ?????? ?? ???????? ?? ???? ????????".

?? ?? ???????? ????? ??????????? ?????? ??????? " Magnificent 7"?

?? ??????? ?? ????? ???? ??????????? ?? Magnificent 7 ?? ?????? ??? ???? ???? ?????? ?? ????? ??????? ???? ???? 7 ???? ????? ??? ??? ???? ???? ?? ??? ?????? ?? ??? ?????.

??? ??? ????? ??????? ?? ??????? ?? Magnificent 7 ??? ???? ??? ?????? ???? ????? ?????? ????? ???? ???? ??????? ??? ???? 500? ??? ?????? ??????? ????? ??? ?????? ?? ??? ??????? ??? ???? Magnificent 7 ??????? 493 ??????? ?? ?????? ??? ???? ?? ??? 30 ???? ????? ??? ????? ??? 6 ???? ????? ?? ??? 2025 ???? 4 ???? ????? ?? ??? 2026.

???? ????? ?? ?? ??????? ?? ???? ???? ??? ???? ?????? ???????? Magnificent 7? ??? ??????? ?????? ??? ????? ???????? ???????? ???? ????? ???? ?????? ?? ??????? ????? ?????? ????? ???????? ????? ??? ????? ?????? ?? 493 ??? ?? ?????? ???? ??? 2025? ????? ?? ???? ?????? ???????? ?? ????? ?????? ? Magnificent 7.

??? ?? ????? ??????? ???????? ???? ??? ???? S&P 493 ???? ????? ???? ???? ?? ??????? ???????? ?????? ?????? ????? Magnificent 7? ????? ????? ???????? ??? ?? ???????? ??????? ???? ????? ????? ????????? ????????? ???? ??? ??????? ?? ?????? ?? ???? ????? ??????? ????????? ?????? ??????? ??? ????? ??? ???????? ???? ???? ??? ?????? ?????? ????????? ????? ?? ???? Magnificent 7 ????? ?? ???? ?? ??? ???????? ?? ???? ???????? ??????? ?????? ??????? ??????? ??? ???? ??????? ??? ???? 500 ???? ????? ??? 26% ?? ??????? ?? ??????? ????? ?????? ?? ???? ??????? ??? ?????? ??????? ???????? ?? ???? ???? ??????????.

?? ?? ???????? ???? ?????? ????? ???????????

?? ??? ???????? ???????? ?????? ???????? ??? ????? ????? ?????? ??????? ??????? ????? ????? ??? ??????? ???? ????? ???? ?????? ????? ?????????? ?? ??? 2025? ?????? ?? ????? ???? ????? ??????? ?? ??????? ????? ??????? ?? ??? ???????? ???? ??????? ??????? ???????.

????? ???? ??????? ???? ??????? ????? ????? 750 ???? ??? ???????? ??????? ?????? ?????? 100 ????? ????? ?? ??? 2025? ?????? ????? 25% ??? ???? ???? ?????? ???? 2024? ??? ?????? ?? ???? ??????? ??????? ?????? ??? ?????? ????? ?????????? ????? 20% ???? ??? 325 ????? ????? ?? ????? ??????? ??? ??????? ????? ??? ????? ?????? ??? ???????? ?????? ???? ??? ??????? ?????? ???????? ???? ?? ???????? ?????? ?????? ?????? ?????.

??? ??? ???? ??????? ?????? ????????? ??? ????

???? ?????? ?? ???? ?????????? ??? ????? ?????? ????????? ?? ???? ??????? ??? ???? ????? ??? ???? ??? ????????? ?? ????? ?????? ????????? ?????? ????????? ???????? ?????? ????? ?????? ?? ???? ??????? ??? ????? ????? ????? ??? ??????????? ??????? ?? ?????? ?????????.

?? ??? 2025 ????? ???????? ?? ????? ?????? ?????????? ??????? ????????? ?? ?????? ???????? ?????? ????????? ??? "??????? ???????" ?????? ?????? ???? ????????? ?????? ?????? ???? ??? ??????? ??? ??????? ???? ?? ?????? ?? ???? ?????? ?????? ??????? ?????????? ??? ???? ??? ???? ???? ?????? ???????? ???? ???? ????? ?????? ?????????.

???? ????? ??????? ??????? ??? ????? ????????? ???????? ???? ???? ?????????? ????? ???????? ???? ?????? ????? ????? ???? ??? ?????? ??? ???????? ?? ?????? ????????? ?? ????? ??????? ???? ????? ??????.

?????? ??? ??????? ?????? ?????? ?? ??????? ????????

????? ??? ??? ?????? ??????? ????? ??????? ??? ??? ????? ??? 6666 ???? ????? ??????? ??? ???? ????? ????? ????? ??????? ???? ???? ???????? ??????? ????? 10% ?? ??? ?????? ?????? 6050 ???? ?? 3 ??????? ??? ??? ??????? ???????? ???? ?????? ??? ????????????? ???? ???????? ????? ???????? ????? ??? ?????? ????? ??????? ?????? ??????? ??? ????? ???????? ??? ????? ?????? ???? ?????? ?? ????? ??????? ????? ????? ??? ????? ?? ??? ?????? ??????? "?????? ?????"? ???? ??? ????? ??? ??? ?????? ?? "????? ??????? ​​???? ?????? ?? ?????? ????????"? ?????? ?? "????? ??????? ​​??? ???? ??? ?? ????" ?? ?????? ??????? ???????? ??????? ??????? ?? ??? ???? ?? ???? ??????????? ??? ?????? ??????? ??????.

???? ?????? ??? ???? ??? ???? ?? ??????? ?? ???? ??? ???? ????? ?? ??? ????? ?????? ??? 2025 ???? 7000 ????? ??????? ??? ???? 500? ????? ?????? ????????????? ?????? ????? ????? ??? ????? ????? ?????? ???? 16% ?????? ?????????? ??????? ??? ??? ?? ??????? ???????? ?????? ?????????? ???? ??? ?? ???? ??????? ??? ?? ??? ????? ??????? ????????? ???? ??????????? ???????? ?????? ??????? ????????? ?? ?????? ?????? ?????? ?? ???? ?????????? ??????????.

???? ????? ?????????? ??????? ???? ?? ????? ??????? ?? ???? ???? S&P ????? ?????? ??? 6500 ?????? 9% ?? 6050 ???? ???? ????? ?? ??? ??????? (3 ??????)? ?? ???? ??? ??? ???????? ????? ??? ??????? ?????? ????????? ???????? ?????? ?????? ??? ??????? ??? ??? ????? 11% ????? 500 ????? ??????? ?????? ?? ?????? ??????? ???? ?????? "????? ??????" ????? ?? ???? ??? 2025?? ??? ???? ???? ????? "?????? ???????" ????? ??? ????? ??????? ??? ??? 2017? ??? ???? ????? ???????? ???????? ??? ????? ??????? ?? ???????? ???? ?????? ???? ??????? ??????? ?? ???? ?????? ????????? ????? ??? ??????? ?????? ?????.

??? ??? ?????? ?????? ??? ???? ??????? ????? ??????? ??? ???? 500 ??????  ???????? ???? ??? 6500 ????? ??? ?????? ?????? ?????? ??? ????? ????? ????? 13% ???? ?????? ?? ???????? ??? ?????? ?????? ???? ??????? ???? ????? "???? ?? ???????" ???? "??? ?????? ??????? ???? ????? ????? ?????????? ???????".

?? ?????? ??????? ???? ??????? ??????? ?????? ?? ???? ???? ??????? ??? ???? 500 ??? 2024 ??? 4700 ? 4500 ??? ???????? ??????? ??? ????? ???? ?? 25% ?? ??? ??? ??????? ?????? 6050.

????? ??? ??? UBS ????? ????? ??????? ??? ???? ??? 6600 ????? ????? ??? 2025? ??? ???? ??? ???? ???? ?????? ????? 10%? ???? ????? ????? ?? ??? ?????? "?? ???? ?? ?????? ??????"? ??? ???? ??? ?????? ?????? ?? ????? ?????? ??? ?????????? ???? ??? ?? ????? ??? ???? ?????? ??????? ???? ??????? ??? ???? ?? ??????? ???????.