Wall Street Journal (April 28)
“The Magnificent Seven drove the stock market’s bull run. Now, their bruising losses pose a new test for markets.” Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla “helped fuel a gangbusters rally that lifted stocks out of the 2022 bear market and toward dozens of all-time highs,” with their shares reaching “eye-popping levels.” Now, however, “the Magnificent Seven are off to their worst start to a year since the 2022 slide,” with each stock falling over 6.5%, collectively destroying “$2.5 trillion in market value.”
Tags: $2.5 trillion, 2022, Alphabet, Amazon, Apple, Bear market, Bruising, Bull run, Eye-popping, Gangbusters, Losses, Magnificent Seven, Meta, Microsoft, Nvidia, Rally, Stock market, Tesla, Value
Bloomberg (December 11)
“The Nasdaq 100 climbed 1.9% to a new record as the Magnificent Seven once again find themselves in pole position. Wall Street’s optimism surrounding the industry and its AI dreams has seemingly proven enduring.”
Tags: AI, Climbed, Dreams, Magnificent Seven, Nasdaq 100, Optimism, Record, Wall Street
Investment Week (September 17)
“Fund managers and analysts have remained adamant that artificial intelligence is the core investment case driving the growth of the Magnificent Seven and other tech giants, but cracks have begun to show in their faith that this growth has stable longevity.”
Tags: Adamant, AI, Analysts, Core investment case, Cracks, Fund managers, Growth, Magnificent Seven, Stable, Tech giants
Investor’s Business Daily (July 19)
“Magnificent Seven stocks dumped more than $1.3 trillion in market value in a week…. Former do-no-wrong AI company Nvidia (NVDA) is the No. 1 culprit” behind the “epic implosion.” Shares in Nvidia “have plunged more than 11% from July 10. That effectively wiped out more than $417.3 billion in shareholders’ wealth — or roughly a third — of the Mag 7’s dollar-value loss in that time.”
Tags: $1.3 trillion, AI, Culprit, Epic implosion, Magnificent Seven, Market value, Nvidia, Plunged, Shareholders, Stocks, Wealth
MarketWatch (January 24)
“Megacap technology stocks have retaken leadership of the U.S. stock market as the S&P 500 continues to hit new record highs, defying hopes on Wall Street for a more broad-based rally.” Since January 1, “the so-called Magnificent Seven have gained a combined $540.7 billion in market capitalization, compared with a total market-cap gain of $802.5 billion for the S&P 500 SPX through Tuesday’s close.”
Tags: $540.7 billion, Broad-based, Magnificent Seven, Market-cap, Megacap, Rally, Record highs, S&P 500 SPX, Stock market, Stocks, Technology, U.S., Wall Street
