📈 Nasdaq Dominated by Seven Tech Giants

In the third quarter of 2024, the combined market capitalization of the "Magnificent Seven" tech giants—Microsoft, Apple, NVIDIA, Alphabet (Google), Amazon, Meta (Facebook), and Tesla—soared to $16.0 trillion. This immense valuation exceeded the market cap of all other Nasdaq U.S. stocks combined, underscoring the exceptional influence these companies hold within the tech sector. From Q3 2019 to Q3 2024, the market cap of these seven surged by 260%, far outpacing the 77% growth in the broader Nasdaq U.S. index, emphasizing their rapid expansion and dominant position in the market.