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The “Magnificent Seven” trade is still very much alive. The elite group of mega-cap tech names — Nvidia (NVDA), Alphabet (GOOGL), Microsoft (MSFT), Meta Platforms (META), Tesla (TSLA), Apple (AAPL), and Amazon (AMZN) — has seen share prices skyrocket on the back of AI, even if not every name managed to beat the S&P 500 ($SPX) last year. What’s happening now is simple — leadership inside Big Tech keeps shifting, and the market is focused on who captures the next leg of AI-driven growth. That is pushing investors to be more selective about which of these giants they still want to own in 2026.
One high-profile example of that selectivity is Cathie Wood. The legendary investor has been trimming her Meta Platforms stake across multiple exchange-traded funds (ETFs), moving money toward other “disruptive innovation” names and themes instead of adding more to META after its AI-led re-rating. That stands out because Meta remains part of the same AI-driven ecosystem that has supported much of the Magnificent Seven's strength, and it is still a core holding for many growth investors.