Why do the Mag 7 move markets more than sectors?
The Magnificent Seven, a term coined by BofA strategist Michael Hartnett, refers to the mega-cap tech giants that now drive US markets. Centered in industries like AI, cloud, and consumer tech, they made up one-third of the S&P 500’s value by late 2024 and contributed over half of its returns. Investors can gain exposure through individual stocks or ETFs.