One Chart Shows How the "Magnificent 7" Have Dominated the Stock Market in 2023

Yahoo Finance2023-11-16

The S&P 500 has never been this top heavy. The "Magnificent 7" tech stocks — Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA) — make ...

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Chong5757
2023-11-16
Chong5757
Hold tight the M7
Koh k
2023-11-16
Koh k
Be
MIe
2023-11-16
MIe
Magnificent 7 tesla Nvidia meta power upside

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Given the benchmark's market cap distribution which allows larger stocks to contribute more to the index's movements, the S&P 500 has added about 19% this year.Research from Goldman Sachs shows the S&P 500 has never been this top heavy, which is leading to gains in seven stocks driving the major average higher.Goldman Sachs equity research team led by chief US equity strategist David Kostin described the \"Magnificent 7's\" outperformance as a \"defining feature of the equity market in 2023.\" And perhaps, rightfully so. Two other charts included in Goldman's outlook show how the \"Magnificent 7\" have outperformed the other 493 stocks in key metrics that typically drive stock performance.From 2013-2019, the \"Magnificent 7\" stocks grew at a compound annual growth rate of 15% compared to a 2% growth rate from the rest of the pack. That margin narrowed in the past two years to 18% and 15% respectively, but Goldman sees it widening again in the coming years. From 2023 to 2025, Goldman sees the \"Magnificent 7\" growing at a compound annual growth rate of 11% compared to a 3% rate for the rest of the S&P 500. The \"Magnificent 7's\" net profit margin also outperforms, where its 19% margins are above the 9.8% for the rest of the companies. Not to mention, the long-term earnings per share growth expectations are 17% for the \"Magnificent 7\" while that number sits at 9% for the other companies in the index. \"From a fundamental perspective, in recent years the trajectory of earnings has explained the performance of the Magnificent 7 relative to the rest of the market,\" Kostin wrote. \"The outperformance of the Magnificent 7 this year has coincided with a rebound in margins and earnings that has outpaced the weakness across the rest of the market.\"He added: \"Consensus expects the Magnificent 7 will continue to deliver faster growth than the rest of the index.\"Two graphs from Goldman Sachs highlight why the Magnificent 7 tech stocks have outperformed the rest of the benchmark index.Goldman Sachs Investment ResearchGoldman sees the path forward for the \"Magnificent 7\" stocks to likely be higher, too, but that doesn't make it the ideal trade for 2024 given the group's rise over the last year.  \"The 7 stocks have faster expected sales growth, higher margins, a greater re-investment ratio, and stronger balance sheets than the other 493 stocks and trade at a relative valuation in line with recent averages after accounting for expected growth,\" Kostin wrote. \"However, the risk/reward profile of this trade is not especially attractive given elevated expectations.\"","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":242105316282520,"gmtCreate":1700144958692,"gmtModify":1700145629378,"author":{"id":"3585011845632474","authorId":"3585011845632474","name":"Chong5757","avatar":"https://community-static.tradeup.com/news/985512d6201b9adc3b8194721984cc6f","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3585011845632474","authorIdStr":"3585011845632474"},"htmlText":"Hold tight the M7","listText":"Hold tight the M7","text":"Hold tight the M7","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242105316282520","repostId":2383861861,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":242067697111056,"gmtCreate":1700135565794,"gmtModify":1700141192148,"author":{"id":"3586220162632233","authorId":"3586220162632233","name":"Koh k","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3586220162632233","authorIdStr":"3586220162632233"},"htmlText":"&nbsp;Be&nbsp;","listText":"&nbsp;Be&nbsp;","text":"Be","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242067697111056","repostId":2383861861,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":242045174751248,"gmtCreate":1700130067170,"gmtModify":1700130071610,"author":{"id":"3577182936341023","authorId":"3577182936341023","name":"MIe","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":0,"idStr":"3577182936341023","authorIdStr":"3577182936341023"},"htmlText":"Magnificent 7 tesla Nvidia meta power upside","listText":"Magnificent 7 tesla Nvidia meta power upside","text":"Magnificent 7 tesla Nvidia meta power upside","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242045174751248","repostId":2383861861,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":12,"commentSize":3,"repostSize":1,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2383861861"}