What Happened to the Magnificent Seven?

What Happened to the Magnificent Seven Stocks?

The Magnificent Seven stocks–Alphabet, Apple, Amazon, Microsoft, Meta Platforms, NVIDIA, and Tesla–have carried U.S. indices higher. Between 2023 and 2024, these seven names rose 156.1% as a collective, compared to 25.16% for the remaining 493 names and 57.88% for the S&P 500 index overall.

However, this cohort has fallen from grace to start the year, tumbling as much as 14.23% in 2025 and dragging the S&P 500 lower.

So…what exactly happened to the Magnificent Seven?

This post will explore performance differences between the Magnificent Seven and the rest of the S&P 500 index, examine how index concentration has fluctuated over the last two years, and provide ways to mitigate the effects of concentrated holdings.

 

What Have the Magnificent Seven Stocks Done This Year?

Despite recent struggles by the Magnificent Seven, the S&P 500 was up 1.44% through the first two months of the year. The remaining 493 constituents – the “S&P 493” – advanced 5.12% as a collective in the same time frame, helping keep the index afloat amid the S&P 7’s 5.7% decline.

However, the last two weeks have seen broader markets take a turn for the worst. As of March 15th, the S&P 493 has given up virtually all of its 2025 gains and the Magnificent Seven has more than doubled its YTD losses, pushing the S&P 500 down 3.85%. Still, the S&P 493 is barely positive so far in 2025.

Performance of Individual Magnificent Seven Constituents

Two and a half months into 2025, six of the seven Magnificent Seven stocks are down between 7 and 15 percent. The worst performer is Tesla, which has plummeted 38.1%, while Meta Platforms is the only positive constituent during the same time frame.

Magnificent Seven stock returns YTD through March 14th, 2025:

Meta Platforms (META): 3.77%

Microsoft (MSFT): -7.81%

NVIDIA (NVDA): -9.40%

Amazon.com (AMZN): -9.77%

Alphabet (GOOG, GOOGL): -11.98%

Apple (AAPL): -14.75%

Tesla (TSLA): -38.10%

Market capitalizations have also tumbled; Tesla has slipped below $1T, while Microsoft and NVIDIA have both fallen below $3T. Amazon and Alphabet now hover just above the $2T mark after punching above $2.5T earlier in the year.

How Have the Magnificent Seven Stocks Performed in Years Past?

 

The current state of the Magnificent Seven stocks is in stark contrast to the past couple of years, when this small cohort carried the index to one new all-time high after another. In the two years between 2023 and 2024, the S&P 7 outperformed the S&P 493 by sixfold.

Disclaimer

©2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. (“YCharts”) is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated through application of the analytical tools and data provided through ycharts.com and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other financial instrument. For further information regarding your use of this report, please go to: ycharts.com/about/disclosure

RISK DISCLOSURE: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

SECURITY REMINDER: E-mail transmission may not be secure.  If you would like to be contacted by other means please alert Paragon Financial Advisors.  By your use of email, Paragon Financial Advisors assumes you agree to our transmission of information by e-mail.  Please do NOT send Social Security numbers or account numbers, confidential or privileged information via E-mail.

CONFIDENTIALITY NOTICE:  All e-mail sent to or from this address will be received or otherwise recorded by Paragon Financial Advisors and is subject to archival, monitoring or review by, and/or disclosure to the Securities and Exchange Commission. This email and any files transmitted with it are confidential and are intended solely for the use of the individual or entity to which they are addressed. This communication represents the originator’s personal views and opinions, which do not necessarily reflect those of Paragon Advisors. If you are not the original recipient or the person responsible for delivering the email to the intended recipient, be advised that you have received this email in error, and that any use, dissemination, forwarding, printing, or copying of this email is strictly prohibited. If you received this email in error, please immediately notify info@paragon-adv.com