Magnificent Seven lose market grip; XMAG faces near-term rotation risk
An ETF holding the S&P 500 ex-Magnificent Seven is outpacing XMAG by about 17 percentage points this year, signaling a leadership shift. Tesla earnings misses and Alphabet declines underline durability concerns for AI-driven profits. Last year, MAGS led XMAG, 22.99% to 15.63%, highlighting ongoing rotation away from the Magnificent Seven and toward broader market leadership.
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