Half of the Magnificent Seven Has Slid into Correction Territory: This Week Could Be Pivotal!
1min read AI-era U.S. tech behemoths, once the bull market's growth engine, are now facing a swift downturn post-July, with Tesla and Google's earnings triggering a sharp sell-off.
Four have plunged over 10% from recent peaks, signaling a market correction that threatens the bull run. NVIDIA and Tesla teeter on the brink of a bear market, while Meta and Alphabet have dropped 14% and 13%. Even Apple, which fared better, saw an 8% decline, and Microsoft and Amazon slipped roughly 9% each.
Since July 10th, a colossal $2 trillion has been wiped from the seven's market value. This week is pivotal as Microsoft, Apple, Amazon, and Meta's earnings could further test investor patience with potential profit shortfalls. Disappointing results may incite fresh market volatility.