General
magnificent seven
What does magnificent seven mean?
Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla. The group that drove most of the S&P 500's returns from 2023 onward thanks to the AI trade. If you stripped them out, the rest of the index looked flat for long stretches.
"Equal-weight S&P is up 4%, the Mag 7 did all the heavy lifting again."
Origin
Coined by Bank of America analyst Michael Hartnett in 2023, riffing on the 1960 Western film.
Frequently asked questions
What does Magnificent Seven mean in the stock market?
It refers to the seven mega-cap US tech stocks carrying the index.
How do you use Magnificent Seven in a sentence?
"The Magnificent Seven have driven most of the market's returns lately."
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