The magnificent seven are back \u2013 or are they?<\/p>\n
Well, kind of. After trailing the S&P 500 for much of 2025, the much-hyped mega-cap grouping has recently surged ahead, buoyed by strong gains for Tesla, Nvidia, Apple, and Microsoft, each up 10 to 25 per cent over the past month.<\/p>\n
The \u201ckind of\u201d qualifier reflects that only four of the seven \u2013 Nvidia<\/a>, Alphabet<\/a>, Microsoft<\/a> and Meta<\/a> \u2013 have actually outperformed this year.<\/p>\n Still, the US remains \u201ca tale of two markets\u201d, notes Schwab\u2019s Liz Ann Sonders. The S&P 500 and Nasdaq trade at all-time highs, but most stocks have lagged. <\/p>\n Just 10 per cent of S&P 500 members and 5 per cent of Nasdaq stocks are at 52-week highs, compared with broader participation last year.<\/p>\n Concentration at the top is \u201cextreme,\u201d says Sonders. The 10 largest S&P 500 stocks account for more than 40 per cent of the index\u2019s value, the five largest over 25 per cent \u2013 both above peaks in 2000 and 2022.<\/p>\n As for the magnificent seven, they now make up 34 per cent of market capitalisation but only 27 per cent of earnings \u2013 a gap that\u2019s widened since April and one to watch \u201cas we head into earnings season\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"The magnificent seven are back \u2013 or are they? Well, kind of. After trailing the S&P 500 for…\n","protected":false},"author":2,"featured_media":74957,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[1796,138,367,220,898,609,111,139,1042,69],"class_list":["post-74956","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-alphabet","tag-business","tag-google","tag-markets","tag-meta","tag-microsoft","tag-new-zealand","tag-newzealand","tag-nvidia","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/74956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=74956"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/74956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/74957"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=74956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=74956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=74956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}