The Magnificent Seven Tech Stocks Surge: Winners and Losers

Are The Magnificent Seven Back? Surging ETFs and Stocks to Watch

Tech investors, rejoice! The Magnificent Seven are back in the spotlight, and they’re making a big comeback after some recent underperformance.

In a surprising turn of events, Tesla, Alphabet, and Apple have all seen significant gains in a short period of time, causing a resurgence in interest and excitement among investors.

Tesla, the electric vehicle giant, saw a staggering 37% surge as it continued to push forward with its robo-taxi plans. Alphabet, once doubted for its AI capabilities, soared to record highs after reporting strong first-quarter earnings. And Apple, long criticized for falling behind in AI innovation, quieted the skeptics with a robust earnings report, not to mention the announcement of a $110 billion stock buyback plan.

This resurgence in the Magnificent Seven has had a ripple effect on tech-heavy ETFs like the Invesco QQQ Trust, which has benefited from a nearly 5% gain since its April lows. The Roundhill Magnificent Seven ETF, winner of etf.com’s best new ETF award for 2023, has also seen a 9% surge from its recent lows.

What’s particularly interesting about the MAGS ETF is its equal-weighted structure, which gives every stock in the Magnificent Seven equal weighting, regardless of size. This strategy has paid off handsomely in recent weeks, with Tesla outperforming its peers and driving impressive gains for the fund.

So, are the Magnificent Seven truly back? The recent performance of these tech giants and ETFs certainly suggests a resounding yes. As tech continues to drive market momentum, keep a close eye on these stocks and funds for further excitement and potential gains.

Source: [etf.com](http://www.etf.com/sections/news/magnificent-seven-etf-surges-laggards-turn-leaders?utm_source=yahoo-finance&utm_medium=rss&utm_campaign=yahoo-finance-rss)