The Magnificent 7 isn't that magnificent: 5 of them have underperformed the market this year

(Credit: Photo by YOSHIKAZU TSUNO/Gamma-Rapho via Getty Images)

S&P 500 futures were up 0.44%  this morning after the index lost 1.07% on Friday, a day after setting a new all-time high on Dec.11.

The index is still up 16% year-to-date—an above-average performance for U.S. stocks. Analysts have long complained that the index is dominated by the “Magnificent 7” tech stocks. Between October 2022 and November 2025 roughly 75% of gains in the S&P 500 came from this handful of companies.

But as we draw near to the close of the year, only two of those stocks—Alphabet and Nvidia—have actually beaten the market as a whole, year to date:

• Year-to-date performance:
• Alphabet up 63%
• Nvidia up 30.33%
• Tesla up 13.65%
• Microsoft up 13.53%
• Apple up 11%
• Meta up 10%
• Amazon up 3%
• S&P 500 up 16%
• Nasdaq Composite up 20%