Here are 5 questions investors should consider when jumping into the huge rally in the 'Magnificent 7' stocks this year
— accounts for 73% of S&P 500 gains in the first half of 2023, and together comprise $11 trillion in market capitalization.
According to the bank, the near-zero interest rate era of the previous decade helped enforce a"no cash today, big growth tomorrow" economic mentality, while market momentum emphasized larger companies. As a final factor, longer run-ups to tech IPOs meant that companies eventually debuted in public markets as mega-cap growth shares. BofA cites a slew of bubbles that occurred through history, including speculation over tulips in 1700s, the Internet Bubble of the 90s, and this century's housing and cryptocurrency frenzies.
Today's top seven firms are much bigger than many tech firms in 2000, which signals that they can afford to deal with stiffer regulation.
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