📈 $1.9 Trillion of Value Erased from Magnificent Seven Stocks in Just 16 Days

Market Cap of Tech Giants Nosedives 11%, From $17 Trillion on July 10 to $15.1 Trillion on July 26, 2024

In just 16 days, the combined market capitalization of the Magnificent Seven stocks experienced a staggering decline. The market cap dropped from $17 trillion on July 10 to $15.1 trillion on July 26, 2024, marking an 11% reduction. This dramatic decrease wiped out $1.9 trillion in value from these leading tech giants.

Market Cap Change (July 10–July 26):

- Apple: -6.4%

- Microsoft: -8.8%

- NVIDIA: -16.2%

- Alphabet: -13.2%

- Amazon: -8.7%

- Meta: -12.9%

- Tesla: -16.4%

The declines were particularly severe for NVIDIA and Tesla, both losing over 16% of their market value. Alphabet and Meta also faced significant reductions, with declines of 13.2% and 12.9% respectively. Apple and Amazon, though hit, managed relatively smaller drops of 6.4% and 8.7%. These losses reflect a period of intense volatility and investor uncertainty in the tech sector.