Last year, S&P 500 investors wanted to make as much money as they could — hence the popularity of the Magnificent Seven. Now, they're just trying to avoid blowups.
Unfortunately, sidestepping portfolio potholes is getting tougher. Just seven widely held stocks in the S&P 500 — including Apple, Alphabet and Nvidia — have shredded $2.5 trillion in market wealth this year, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge.
Ironically, many of the biggest losers now are also in the Mag 7, including Tesla and Amazon.com. Blame the mayhem sparked by President Donald Trump's tariffs.
"Amid tariff concerns and economic uncertainty, investors have gravitated to defensive sectors in 2025, (which have) driven outperformance over cyclical stocks," said Jeremiah Buckley, portfolio manager at Janus Henderson Investors.
S&P 500 Tumbles Mightily, Especially Apple
Investors hoped Trump would focus on a pro-growth agenda. But instead, trade-damaging tariffs have headlined the administration's moves. The S&P 500 itself is still down 3% this year.
And that's been especially brutal news for any S&P 500 companies that have risen to prominence due to acing global trade. Case study No. 1 is global smartphone maker Apple. Shares of the dominant tech firm have shed more than $813 billion single-handedly this year. That loss is enormous. It surpasses the combined total value of 70 companies in the S&P 500. Apple shares are down 20% this year — much worse than the S&P 500.
Talk about a comeuppance. Shares of former runaway leader Apple now carry an RS Rating of just 36. They're also far below a buy point and well below their 200-day moving average of 226. Analysts think the company's earnings will rise only 7% this year, a significant deceleration from 10% growth in 2024.
Alphabet And Nvidia Aren't Spared Either
Alphabet deals in less tariff-triggering hardware than Apple, but its shares have also been hit. Shares are down 18% this year, erasing $440 billion in market value. Alphabet is another fallen champion. The stock's RS Rating is just 27. Analysts think profit will rise 22% in 2025, but inch up just 7% in 2026.
And AI chipmaker Nvidia is suffering as well. A 12% drop in the stock this year equals a loss of $407 billion. The stock has had such a run that the RS Rating is still 75. And that's because analysts think Nvidia's earnings will rise 130% this year.
So while it's still possible to find good stocks in this market, it's just as easy to get pummeled.
Biggest Market-Cap Losses This Year
| Company | Ticker | Sector | Market value lost (in billions) |
|---|---|---|---|
| Apple | AAPL | Information Technology | -$813.9 |
| Alphabet | GOOGL | Communication Services | -$440.4 |
| Nvidia | NVDA | Information Technology | -$406.7 |
| Tesla | TSLA | Consumer Discretionary | -$365.7 |
| Amazon.com | AMZN | Consumer Discretionary | -$251.7 |
| UnitedHealth Group | UNH | Health Care | -$112.7 |
| Broadcom | AVGO | Information Technology | -$96.5 |
