Every Magnificent Seven stock is now down double digits from its 52-week high, with the group’s losses accelerating as the war in Iran compounds on the already fraught AI trade.
Microsoft has been hit hardest by the drawdown, falling roughly 32% from its October peak, on track for its worst start to a year in its history. Meta is down about 25%, and Alphabet roughly 15% from its closing high last month. Even the darling of the AI trade, Nvidia, and high-performing Amazon are negative on the year. A Bloomberg index tracking the seven said it had entered correction territory in mid-March, closing more than 10% below its October record.
