Magnificent Seven stocks may be cheap and the S&P 493 expensive, Bridgewater says. Here’s why. - MarketWatch

1. The Magnificent Seven need 14% annual EPS growth for risk premium. 2. AAPL and peers have historically high valuations compared to other sectors. 3. S&P 500 top 10 companies trade at 27x forecasted earnings. 4. Lower growth expectations for rest of S&P 500 at 4% per year. 5. Market concentration historically leads to positive stock performance.