At the start of 2022, the seven largest S&P 500 stocks by market cap (which have begun to colloquially be called the Magnificent Seven) possessed a combined market cap of $11.78 trillion. However, severe losses throughout 2022 meant that by the end of the year, these stocks were down 47.7% on average. In terms of the combined market cap, that dropped the total down to just $6.9 trillion.In 2023, those same seven stocks have averaged a gain of 106.6%. While not all of these stocks have fully recovered—for example, Tesla (), Alphabet (), and Meta () all have lower market caps than at the start of 2022—the strong performance this year on the whole has meant the combined market cap has made a round trip. Now back to square one, what’s next?
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Magnificent Seven Market Cap Round Trip
