It’s been an eventful month for the Magnificent Seven and the state of the AI trade, to say the least. With a painful correction sweeping through the tech scene, but some soothing words from a Fed official, it seems like there’s still a pretty good chance that the S&P 500 exits the month of November with gains intact, especially as some of the Magnificent Seven players start shining bright again.
Though it’s too early to say where stocks head back after getting momentarily knocked to the canvas over extreme levels of AI bubble discussion among various pundits, including tech leaders, money managers, banks, and seemingly everyone else, I do think that investors shouldn’t discount the Magnificent Seven group, even as members of the cohort move in differing directions again.
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