
It’s been a lackluster year for Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL). While both outperformed the S&P 500 over the past 12 months, their returns fell short of investor expectations in a bull market supercharged by artificial intelligence enthusiasm.
Amazon gained nearly 25% and Apple gained nearly 22%. Meanwhile, almost every other company in the Magnificent Seven did better—in some cases, far better: