Magnificent seven stocks got crushed The "Magnificent 7" stocks dominated headlines throughout 2023 due to their extraordinary performance, propelling the stock market to unprecedented highs. These stocks, comprising some of the largest companies by market capitalization, wielded significant influence over the S&P 500 index. According to CNBC's analysis, the Magnificent 7 collectively accounted for nearly one-third of the S&P 500's composition at that time. Their movements dictated much of the index's trajectory, amplifying their impact on overall market performance. While discussion around the Magnificent 7 has subsided somewhat, their pivotal role in driving the S&P 500 to new peaks in 2024 remains undiminished. However, as investor sentiment shifts away from large-cap technology stocks, these companies may now contribute to downward pressure on the index. Anticipations for earnings among the Magnificent 7 are notably high as we move into the latter half of 2024. Investors are optimistic about Tesla's potential rebound in auto sales, Apple's expected surge in iPhone sales driven by a super cycle, and NVIDIA's anticipated outperformance with its upcoming next-generation Blackwell chips. These companies' upcoming earnings reports are eagerly awaited as they are expected to surpass market expectations, potentially influencing broader market sentiment. Methods The www.markets.com site is operated by Finalto (BVI) Ltd which is an authorized and regulated by the B.V.I Financial Services Commission (“FSC”) under the Securities and Investment Business Act, 2010, licence number SIBA/L/14/1067. Finalto (BVI) Ltd is located at 6th Floor Luna Tower, Waterfront Drive, Road Town, Tortola, VG1110, British Virgin Islands. Risk Warning: Trading Foreign Exchange (Forex) and Contracts For Difference (CFD) is highly speculative, carries a high level of risk and is not appropriate for every investor. Any advice provided on this website is general advice only, and has been prepared without taking your individual objectives, financial situation or needs into account. Before deciding to trade Forex/CFDs offered by markets.com, you should carefully consider your objectives, financial situation, needs and level of experience, and consider seeking independent professional advice. By trading, you may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. Please read the full Risk Disclosure Statement and Terms and Conditions. For privacy and data protection related complaints please contact us at privacy@markets.com. Please read our PRIVACY POLICY STATEMENT for more information on handling of personal data. Markets.com operates through the following subsidiaries: Finalto Financial Services Limited (FFS) is authorised and regulated by the Financial Conduct Authority (FCA), registration number 481853. Finalto Financial Services is incorporated in England and Wales under company number 06557752. Cryptocurrency CFDs are not available to Retail Clients. Safecap Investments Limited, which is regulated by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 092/08. Safecap is incorporated in the Republic of Cyprus under company number ΗΕ186196. Finalto (Australia) Pty Ltd is an Australian based company (ACN 158 641 064) regulated by the Australian Securities and Investments Commission (“ASIC”) under license no.424008. Finalto (South Africa) Pty Ltd is regulated by the Financial Sector Conduct Authority (“FSCA”) under license no. 46860 and licensed to operate as an Over-the-Counter Derivatives Provider (“ODP”) in terms of the Financial Markets Act no.19 of 2012. Finalto International Limited is registered in the Saint Vincent and The Grenadines (“SVG”) under the revised Laws of Saint Vincent and The Grenadines 2009, with registration number 27030 BC 2023. Cookies