With the Nasdaq stuck below its 200-day moving average, the rattling of the Magnificent Seven stocks continues. While also below its 200-day line, Apple retains its crown as the king of market capitalization, making up 9.8% of the Nasdaq. Accounting for 8.2% of the tech-heavy index, Microsoft now holds a clear edge over Nvidia, which has slipped to 7.8%.
Meanwhile, at 5.9%, Amazon.com has kept lead over Alphabet. Alphabet makes up 5.5% of the Nasdaq. Meta Platforms comes in next, holding steady at 4.3%.
And while shares of Tesla have tried but failed to push through its 200-day line, the electric vehicle giant continues to maintain its status as a Magnificent Seven member. Continuing its battle with non-Mag 7 member Broadcom in terms of market cap, Tesla stock now holds the edge, accounting for 2.4% of the Nasdaq. Broadcom's weighting is just behind at 2.3%.
IBD's recommended market exposure level has slipped to the lowest-possible 0%-20%. The five-tiered system, a key part of The IBD Methodology, helps investors stay protected and profitable with sound risk management.
What Percentage Of Nasdaq Are The Magnificent Seven Stocks?
Here are the current individual market cap weightings of Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia and Tesla. The weightings will, of course, change as their market caps fluctuate.
| Company | Symbol | Market Cap Weighting (%)* | Comp Rating |
|---|---|---|---|
| Apple | 9.8 | 90 | |
| Microsoft | 8.2 | 66 | |
| Nvidia | 7.8 | 68 | |
| Amazon.com | 5.9 | 71 | |
| Alphabet Class C | 5.6 | 65 | |
| Alphabet class A | 5.5 | 65 | |
| Meta Platforms | 4.3 | 91 | |
| Tesla | 2.4 | 63 | |
*As of April 1 |
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Magnificent Seven Stocks News & Analysis
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What Are The Magnificent Seven Stocks?
Just as Wall Street moved on from the Nifty 50 in the 1970s as the term's popularity and usefulness waned, the so-called FANG or FAANG stocks have lost their bite. Replacing them in the lexicon du jour is the phrase Magnificent Seven Stocks: Alphabet, Apple, Amazon, Meta Platforms, Microsoft, Nvidia and Tesla.
From GOOGL, AAPL and AMZN to META, MSFT, NVDA and TSLA, the Magnificent Seven stocks account for around half of the weighting of the Nasdaq.
Unlike the price-weighted Dow Jones Industrial Average, the Nasdaq composite and S&P 500 indexes are market-capitalization weighted.
As a result, the combined market caps of the Magnificent Seven stocks have a disproportional influence on the Nasdaq composite and Nasdaq 100.
To help address this issue, the Nasdaq rebalanced the index on July 24. That reduced the individual weightings of the Magnificent Seven stocks. But the rebalancing simply changed the total weighting of these seven megacaps from over 50% to nearly 50%.
In short, the Nasdaq 100 remains heavily concentrated on these megacap growth stocks.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
