Magnificent Seven Dominates S&P 500, But Recent Struggles Raise Concerns

The Magnificent Seven tech giants, comprising 34.1% of the S&P 500's market cap, soared 697.6% from 2015 to 2024 but have struggled in 2025, declining 4.0% versus the S&P 500's 0.2% gain, raising concerns about their continued dominance.

• The Magnificent Seven companies make up 34.1% of the S&P 500's market capitalization as of May 2025, up from 12.3% in 2015.
• From 2015 to 2024, the Magnificent Seven achieved a combined return of 697.6%, outperforming the S&P 500's 178.3% return over the same period.
• In 2025 year-to-date, the Magnificent Seven has lagged behind the S&P 500, declining 4.0% compared to the S&P 500's 0.2% gain.