Syz the moment

Source: www.zerohedge.com, Bloomberg

$AAPL -13% $NFLX -18% $MSFT -19% $META -19% $GOOGL -20% $AMZN -20% $IBIT bitcoin -26% $AVGO -27% $NVDA -28% $TLSA -52% Source: Mike Zaccardi, CFA, CMT, MBA

The Magnificent 7 is down over 15% since the peak, nearly matching the early August crash drawdown. 10 days performance: $TSLA -25% $NVDA -21% $AMZN -10% $GOOGL -9% $AAPL -7% $MSFT -5% $AAPL -5% When will we see the capitulation? Source: Bloomberg, Global Markets Investor

The equal weight Magnificent 7 index is now down 10% off its most recent All Time Highs the technical definition of a Correction - Bloomberg (Magnificent 7 = Apple, Nvidia, Microsoft, Amazon, Google, Meta, Tesla) Source: Bloomberg, Evan

Disappointing data could be a major blow for all Mag 7. Will a positive surprise trigger a revival of Mag 7 relative strength versus the rest of the world?

European banks have outperformed the Mag 7 over the past two years.... via @GoldmanSachs

The Magnificent 7 stocks are down -1.4% while the S&P 500 itself is up ~2.9%. Meanwhile, the remaining 493 stocks in the S&P 500 have gained +6.6%. To put this into perspective, in 2024, the Magnificent 7 stocks returned +67.4% while the remaining 493 firms gained just +5.0%.

With the rise of DeepSeek & other small models, questions are the following: 1) Will these giants maintain their spending forecasts? 2) How they justify it after DeepSeek release? 3) Will the perceived value move up the chain towards applications? Source: Deutsche Bank thru Ali Dhanji @DhanjiatRJ on X