Insights #10: The ‘Magnificent Seven’ (M7): Assessing their contribution to the performance of US publicly listed firms

By now, the 'Magnificent Seven' “tech” stocks – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla – together amount to around 30% of the S&P 500's market cap. Crux of Capitalism data reveals their heft extends beyond that. In 2022, these 7 giants alone accounted for 32% of the economic profit of all firms listed in the US stock market. Plus, with the M7 responsible for 38% of total R&D spending, these companies are central to US innovation ecosystems.

4 Dec 2023 · Magaly Abboud, Sára Czégé, Camilla Erencin, Simon J. Evenett, Pierre Ledan, Adam Novak and Felix Reitz