📈 Market Capitalization of the 'Magnificent Seven' Stocks Declines to $14.6 Billion
Market Cap of Tech Giants Nosedives 14.1%, From $17 Trillion on July 10 to $14.6 Trillion on August 9, 2024
In one month, the combined market capitalization of the Magnificent Seven stocks experienced a staggering decline. The market cap dropped from $17 trillion on July 10 to $14.6 trillion on August 9, 2024, marking an 14.1% reduction. This dramatic decrease wiped out $2.4 trillion in value from these leading tech giants.
Market Cap Change (July 10–August 9, 2024):
- Apple: Decreased by $285 billion, a drop of 8.0%.
- Microsoft: Declined by $447 billion, a decrease of 12.9%.
- NVIDIA: Fell by $742 billion, a significant reduction of 22.4%.
- Alphabet (Google): Lost $353 billion, down by 14.9%.
- Amazon: Dropped by $327 billion, a decrease of 15.7%.
- Meta Platforms: Decreased by $46 billion, down by 3.4%.
- Tesla: Plummeted by $201 billion, a significant drop of 23.9%.
The declines were particularly severe for NVIDIA and Tesla, both losing over 22% of their market value. Amazon, Alphabet, and Microsoft also faced significant reductions, with declines of 15.7%, 14.9% and 12.9% respectively. Apple and Meta, though hit, managed relatively smaller drops of 8.0% and 3.4%. These losses reflect a period of intense volatility and investor uncertainty in the tech sector.
Dataset
| Market Capitalization of the 'Magnificent Seven' Stocks | |||||||
|---|---|---|---|---|---|---|---|
| Billion US$ | |||||||
| Microsoft (MSFT) | Apple (AAPL) | NVIDIA (NVDA) | Alphabet (Google) (GOOG) | Amazon (AMZN) | Meta Platforms (Facebook) (META) | Seven Magnificent | |
| 01/05/24 | 2,733 | 2,818 | 1,213 | 1,685 | 1,500 | 904 | 11,608 |
| 01/12/24 | 2,887 | 2,892 | 1,351 | 1,785 | 1,598 | 962 | 12,172 |
| 01/19/24 | 2,963 | 2,979 | 1,469 | 1,832 | 1,605 | 985 | 12,509 |
| 01/26/24 | 3,002 | 2,993 | 1,507 | 1,905 | 1,644 | 1,013 | 12,647 |
| 02/02/24 | 3,056 | 2,870 | 1,634 | 1,770 | 1,785 | 1,211 | 12,924 |
| 02/09/24 | 3,125 | 2,916 | 1,782 | 1,850 | 1,812 | 1,193 | 13,295 |
| 02/16/24 | 3,002 | 2,815 | 1,794 | 1,745 | 1,761 | 1,207 | 12,960 |
| 02/23/24 | 3,049 | 2,818 | 1,970 | 1,787 | 1,818 | 1,234 | 13,288 |
| 03/01/24 | 3,087 | 2,774 | 2,057 | 1,703 | 1,851 | 1,281 | 13,398 |
| 03/08/24 | 3,018 | 2,636 | 2,188 | 1,681 | 1,821 | 1,290 | 13,194 |
| 03/15/24 | 3,094 | 2,666 | 2,196 | 1,753 | 1,812 | 1,234 | 13,275 |
| 03/22/24 | 3,186 | 2,660 | 2,357 | 1,872 | 1,858 | 1,299 | 13,776 |
| 03/28/24 | 3,126 | 2,648 | 2,259 | 1,874 | 1,874 | 1,238 | 13,578 |
| 04/05/24 | 3,162 | 2,619 | 2,200 | 1,893 | 1,922 | 1,344 | 13,666 |
| 04/12/24 | 3,135 | 2,726 | 2,205 | 1,958 | 1,933 | 1,305 | 13,807 |
| 04/19/24 | 2,966 | 2,548 | 1,905 | 1,913 | 1,814 | 1,226 | 12,840 |
| 04/26/24 | 3,020 | 2,614 | 2,193 | 2,135 | 1,866 | 1,124 | 13,489 |
| 05/03/24 | 3,022 | 2,812 | 2,220 | 2,076 | 1,938 | 1,146 | 13,792 |
| 05/10/24 | 3,082 | 2,807 | 2,247 | 2,094 | 1,951 | 1,208 | 13,926 |
| 05/17/24 | 3,123 | 2,911 | 2,312 | 2,186 | 1,922 | 1,197 | 14,217 |
| 05/24/24 | 3,197 | 2,913 | 2,662 | 2,173 | 1,881 | 1,213 | 14,610 |
| 05/31/24 | 3,085 | 2,948 | 2,697 | 2,142 | 1,836 | 1,184 | 14,460 |
| 06/07/24 | 3,150 | 3,019 | 2,974 | 2,166 | 1,918 | 1,250 | 15,043 |
| 06/14/24 | 3,289 | 3,258 | 3,244 | 2,195 | 1,911 | 1,279 | 15,745 |
| 06/21/24 | 3,343 | 3,182 | 3,114 | 2,230 | 1,968 | 1,255 | 15,675 |
| 06/28/24 | 3,322 | 3,230 | 3,039 | 2,261 | 2,011 | 1,279 | 15,773 |
| 07/05/24 | 3,475 | 3,471 | 3,095 | 2,366 | 2,081 | 1,370 | 16,660 |
| 01/00/00 | 3,465 | 3,573 | 3,319 | 2,374 | 2,079 | 1,356 | 17,005 |
| 07/12/24 | 3,371 | 3,535 | 3,179 | 2,298 | 2,024 | 1,265 | 16,464 |
| 07/19/24 | 3,249 | 3,440 | 2,901 | 2,206 | 1,906 | 1,209 | 15,673 |
| 07/26/24 | 3,161 | 3,342 | 2,781 | 2,061 | 1,899 | 1,181 | 15,128 |
| 08/02/24 | 3,036 | 3,343 | 2,639 | 2,057 | 1,762 | 1,235 | 14,736 |
| 08/09/24 | 3,018 | 3,288 | 2,577 | 2,020 | 1,752 | 1,310 | 14,604 |