phrase
General Slang
Magnificent Seven
· phrase · finance
The seven mega-cap US tech stocks carrying the index.
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Definitions
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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.”
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Magnificent Seven In A Sentence
Equal-weight S&P is up 4%, the Mag 7 did all the heavy lifting again.
Origin & Usage
Coined by Bank of America analyst Michael Hartnett in 2023, riffing on the 1960 Western film.
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