Magnificent Seven Stocks Top $25 Trillion in Combined Market Value for First Time
The seven largest U.S. technology stocks were on pace Tuesday to close above $25 trillion in combined market capitalization for the first time, exceeding the GDP of every country except the United States.
The combined market value of the seven largest U.S. technology stocks was on pace Tuesday to close above $25 trillion for the first time, according to MarketWatch, citing FactSet data.
The group — Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla — now exceeds the nominal gross domestic product of every country in the world except the United States, and is also larger than the combined GDP of the European Union, according to the report.
Scale of the rally
MarketWatch noted the milestone using International Monetary Fund World Economic Outlook figures that put the U.S. economy at roughly $30 trillion, China at about $19.6 trillion and the European Union at about $21.2 trillion. The comparison underscores how concentrated recent market gains have become in a small group of megacap technology names.
Reporting based on coverage by MarketWatch.
