Zero Magnificent 7 stocks are beating the S&P 500 over the past three months
An exclamation point for my recent screed on why the “Magnificent 7” moniker is not long for this world:
All seven are now lagging the S&P 500 over the past three months. It’s the first time since November 2022 — a period that encompasses the final phase of selling in the last bear market and the start of the bull market we may still currently be in — that no member of the cohort has outperformed the S&P 500 over a 63-session stretch.
Back then, “Magnificent 7” as a title for these stocks didn’t even exist!
Each unhappy family is unhappy in its own way.
Meta became the final member of the group to falter with Tuesday’s big drop, which saw the stock go negative on the year for the first time. Like Alphabet and Amazon, it closed at 2025 lows. Nothing out of Nvidia is rejuvenating the bulls. Apple is floundering on AI, which is putting a ceiling on iPhone upgrade cycles. Microsoft is even down over the past year. As for Tesla, well, there’s no shortage of reasons why that stock’s postelection romp higher has taken a turn for the worse.
The S&P 500 is off 7.2% over the past 63 sessions. While Meta is barely lagging the benchmark US stock index, most members of the cohort have fallen about twice as much and Tesla has nearly halved during this span.