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Magnificent 7 Still Comprise Over 30% Of S&P 500 Despite Tech Correction
Despite a market rebalancing away from large tech companies, reflected by an over 10% correction in the Roundhill Magnificent Seven ETF (NASDAQ:MAGS) in the past two weeks, the so-called “Magnificent Seven” companies still comprise an outsized portion of the S&P 500.
The Data: The Magnificent 7 comprises seven of the largest U.S. technology companies weighted heavily in the SPDR S&P 500 ETF Trust (NYSE:SPY).
Apple Inc (NASDAQ:AAPL), 6.93% of the index.
Microsoft Corp (NASDAQ:MSFT), 6.66% of ...