📈 Market Cap of the Magnificent Seven Stocks Rebounds Following Fed Rate Cut

Market Cap of the Magnificent Seven Stocks Rebounds to August Peak by September 20 Following Fed Rate Cut

The "Magnificent Seven" stocks—Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta Platforms, and Tesla—experienced notable volatility in their market capitalization during late summer 2024:

• August 5, 2024: Market cap dropped to a low of $14.1 trillion.

• End of August 2024: It surged to $15.4 trillion.

• First Week of September 2024: A decline brought it down to $14.5 trillion.

• Third Week of September 2024 (following fed rate cut): Market cap rebounded to $15.8 trillion.

Despite short-term fluctuations, these stocks have shown strong year-to-date growth of 31%, underscoring continued investor confidence and the resilience of these tech giants in 2024.