The five giant stocks the market is overly reliant upon have little upside left, Goldman Sachs says

Facebook's CEO Mark Zuckerberg (L) speaks with Microsoft's CEO Satya Nadella after posing for a family picture with guests who attend the "Tech for Good" Summit at the Elysee Palace in Paris, on May 23, 2018.
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The five stocks that have carried the market over much of the last decade — Facebook, Apple, Microsoft, Amazon and Alphabet — have little room left to climb, Goldman Sachs warned its clients.

Those five companies collectively have upside potential of just 3% to Goldman analyst price targets versus 10% for the other 495 firms that comprise the S&P 500 index.

Given their clout, weakness in any one of the country's five largest companies could bode poorly for the broader market, wrote David Kostin, chief U.S. equity strategist at Goldman.

"The multi-year outperformance of Facebook, Apple, Amazon, Microsoft, and Google has led to record-high equity market concentration and narrow market breadth," Kostin wrote in a note published Friday.