How long can the Magnificent Seven keep winning?
History suggests the dazzle of today’s star tech stocks will likely fade
At the time of writing the S&P 500 index was up more than 14% for the year. The performance, though, owes to a narrow set of star tech companies – the so-called Magnificent Seven – Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla and Meta. Remove those companies from the calculation and the index would barely rise above its level at the end of 2022.
Such an extreme situation makes life
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