Reported about 19 hours ago
Mega-cap tech firms, collectively known as the 'Magnificent Seven,' including Nvidia, Microsoft, Apple, and others, are driving significant growth in the stock market, largely due to investments in AI. These companies not only dominate the S&P 500 with substantial market weighting but also function as diversified conglomerates by expanding into multiple industries. Despite concerns surrounding this concentration, their collective growth and ongoing advancements in technology continue to support a healthy economic outlook, especially as AI spending exceeds consumer spending's contribution to GDP growth.
Source: YAHOO