{"id":6522,"date":"2023-10-28T21:16:44","date_gmt":"2023-10-28T21:16:44","guid":{"rendered":"https:\/\/infundpros.com\/markets\/magnificent-seven-stocks-have-shed-more-than-1-2-trillion-in-value-since-the-markets-july-peak\/"},"modified":"2023-10-28T21:16:45","modified_gmt":"2023-10-28T21:16:45","slug":"magnificent-seven-stocks-have-shed-more-than-1-2-trillion-in-value-since-the-markets-july-peak","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=6522","title":{"rendered":"\u2018Magnificent Seven\u2019 stocks have shed more than $1.2 trillion in value since the market\u2019s July peak"},"content":{"rendered":"
\n

The so-called \u201cMagnificent Seven\u201d megacap technology stocks that have powered practically all of this year\u2019s rally in the S&P 500 have seen more than $1.2 trillion in value evaporate since stocks peaked at the end of July. <\/p>\n

According to an analysis by Dow Jones Market Data, the group of the most valuable U.S. companies by market capitalization has shed $1.24 trillion in market capitalization since July 31, the day the S&P 500 logged its year-to-date closing high of 4,588.96.<\/p>\n

\n

The group of seven companies includes Google parent Alphabet Inc.\u2019s Class A
\n GOOGL,
\n -0.09%<\/bg-quote>
\n and Class C
\n GOOG,
\n -0.03%<\/bg-quote>
\n shares, along with shares of Amazon.com Inc.
\n AMZN,
\n +6.83%<\/bg-quote>,<\/span>
\n Facebook parent Meta Platforms Inc.
\n META,
\n +2.91%<\/bg-quote>,<\/span>
\n Tesla Inc.
\n TSLA,
\n +0.75%<\/bg-quote>,<\/span>
\n Microsoft Corp.
\n MSFT,
\n +0.59%<\/bg-quote>,<\/span>
\n Apple Inc.
\n AAPL,
\n +0.80%<\/bg-quote>
\n and artificial-intelligence darling Nvidia Corp.
\n NVDA,
\n +0.43%<\/bg-quote>\n <\/p>\n

Of these companies, Apple Inc. has seen the biggest decline in its market value, having lost $480.7 billion during this period, followed by Tesla Inc., which has shed $194.7 billion. Most of Tesla\u2019s decline followed the electric carmarker\u2019s disastrous earnings report from last week. <\/p>\n

See:<\/strong> Tesla Stock Falls After Its Earnings \u2018Mini-Disaster\u2019<\/p>\n

By comparison, this same group of stocks shed $4.7 trillion in value during the 2022 stock-market rout as some members, including Tesla and Meta, experienced drawdowns of more than 60%, according to FactSet data. <\/p>\n

To be sure, as a group, the Magnificent Seven are still sitting on strong gains year-to-date, and have gained more than $3.3 trillion market value, according to Dow Jones data. In aggregate, they\u2019re still up roughly 50% year-to-date, according to FactSet. <\/p>\n

Some analysts see signs of more weakness ahead as a bearish technical chart pattern has emerged. <\/p>\n

But the group of stocks traded higher on Friday after earnings from Amazon sent shares of the e-commerce giant nearly 7% higher, helping to lift most of its megacap peers. While these gains helped lift the Nasdaq Composite
\n COMP,<\/span>
\n both the S&P 500
\n SPX
\n and Dow Jones Industrial Average
\n DJIA
\n remained poised for another loss. <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The so-called \u201cMagnificent Seven\u201d megacap technology stocks that have powered practically all of this year\u2019s rally in the S&P 500 have seen…<\/p>\n","protected":false},"author":1,"featured_media":6523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-6522","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"\n\u2018Magnificent Seven\u2019 stocks have shed more than $1.2 trillion in value since the market\u2019s July peak | inFundPros<\/title>\n<meta name=\"description\" content=\"The so-called \u201cMagnificent Seven\u201d megacap technology stocks that have powered practically all of this year\u2019s rally in the S&P 500 have seen more than\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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