Magnificent Rotation – In the year to November 16th, the Magnificent 7 contributed around 84% of the S&P 500’s growth (5x the rest)

There's obviously been a lot of talk about a rotation out of the Mag7 and into of S&P 500 (or riskier names) but think the scale of their contribution is pretty crazy.

Market Value Gained: January 1st to November 16th:
Microsoft – $1,009bn
Apple – $962bn
Nvidia – $860bn
Amazon – $615bn
Alphabet – $599bn
Meta – $545bn
Tesla – $353bn
Other other 493 companies in the S&P 500 – $962bn (16.4% of total)

Market Value Gained: November 16th to December 6th:
Apple – $52bn
Tesla – $22bn
Amazon – $19bn
Meta – ($42bn)
Microsoft – ($48bn)
Nvidia – ($74bn)
Alphabet – ($92bn)
Other other 493 companies in the S&P 500 – $632bn (134% of total)

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