Mag 7 valuation premium now the lowest in 8 years
Source: Mike Zaccardi, CFA, CMT, MBA, Goldman Sachs
The seven most influential names in the market are testing a 1.5 year uptrend.
Source: TrendSpider
Mag7 stocks had their biggest overall marketcap decline ever ($3.3 trillion from its peak)...
Source: www.zerohedge.com, Bloomberg
Magnificent drawdowns
$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
🚨This is getting SERIOUS:
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
MAGNIFICENT 7 ENTERS CORRECTION TERRITORY
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
Wake up it is nvdia $NVDA earnings week...
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?
Can you believe it?
European banks have outperformed the Mag 7 over the past two years.... via @GoldmanSachs
