While still volatile amid uncertainty around President Donald Trump's tariffs, the market indexes have launched a new rally. Tesla and Alphabet have already reported, but fellow Magnificent Seven stocks Microsoft and Meta Platforms have earnings on tap for Wednesday, while Apple and Amazon.com are set for Thursday.
Ahead of this barrage of earnings, Apple maintains its crown as the king of market capitalization. The iPhone maker now accounts for 9.2% of the Nasdaq. At 8.5%, Microsoft continues to top Nvidia's 7.8% weighting on the tech-heavy index.
Making up 5.8% of the Nasdaq, Amazon stock holds a slight edge over Google stock, which accounts for 5.7%. Meta stock has edged back up 4.1%.
Following its sharp skid off the all-time high it hit in December, Tesla briefly fell below non-Mag 7 member Broadcom in terms of market cap. But boosted by Elon Musk's bullish robotaxi comments, the electric vehicle maker's weighting now stands at 2.7%, narrowly eclipsing Broadcom's 2.6%.
IBD's recommended market exposure level has moved higher in recent days, now standing at 40%-60%. The five-tiered system, a key part of The IBD Methodology, helps investors stay protected and profitable with sound risk management.
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What Percentage Of Nasdaq Are The Magnificent Seven Stocks?
Here are the current individual market cap weightings of Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia and Tesla. The weightings will, of course, change as their market caps fluctuate.
| Company | Symbol | Market Cap Weighting (%)* | Comp Rating |
|---|---|---|---|
| Apple | 9.2 | 87 | |
| Microsoft | 8.5 | 70 | |
| Nvidia | 7.8 | 78 | |
| Amazon.com | 5.8 | 83 | |
| Alphabet Class C | 5.8 | 78 | |
| Alphabet class A | 5.7 | 80 | |
| Meta Platforms | 4.1 | 88 | |
| Tesla | 2.7 | 71 | |
*As of April 28 |
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What Are The Magnificent Seven Stocks?
Just as Wall Street moved on from the Nifty 50 in the 1970s as the term's popularity and usefulness waned, the so-called FANG or FAANG stocks have lost their bite. Replacing them in the lexicon du jour is the phrase Magnificent Seven Stocks: Alphabet, Apple, Amazon, Meta Platforms, Microsoft, Nvidia and Tesla.
From GOOGL, AAPL and AMZN to META, MSFT, NVDA and TSLA, the Magnificent Seven stocks account for around half of the weighting of the Nasdaq.
Unlike the price-weighted Dow Jones Industrial Average, the Nasdaq composite and S&P 500 indexes are market-capitalization weighted.
As a result, the combined market caps of the Magnificent Seven stocks have a disproportional influence on the Nasdaq composite and Nasdaq 100.
To help address this issue, the Nasdaq rebalanced the index on July 24. That reduced the individual weightings of the Magnificent Seven stocks. But the rebalancing simply changed the total weighting of these seven megacaps from over 50% to nearly 50%.
In short, the Nasdaq 100 remains heavily concentrated on these megacap growth stocks.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
