‘Magnificent Seven’ tech stocks lose steam as AI hype fades
The so-called “Magnificent Seven” tech stocks — Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), Tesla (TSLA), Alphabet (GOOG, GOOGL), Meta (META), and Amazon (AMZN) — were once the main drivers propelling the S&P 500’s gains. However, as investors question whether the market is entering an AI-fueled bubble, cracks are emerging in these mega-cap names. Stocks like …