Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla, known as the Magnificent Seven, now have a combined market value of over $20 trillion, making them among the most powerful companies in history. Who is handling their financial records? Another numerically-termed group of powerhouses. The Big Four professional services firms - PwC, Deloitte, EY, and KPMG - are the industry-leading consulting and accounting firms that audit the Magnificent Seven.
As of mid-December, only Nvidia and Alphabet are beating the S&P 500 this year. The rest of the Magnificent Seven are trailing the benchmark. That surprised even seasoned investors. Amazon (NASDAQ: AMZN) underperforming was not shocking, but Microsoft (NASDAQ: MSFT) lagging the index caught many people off guard given its solid earnings and strong AI narrative. Meta Platforms (NASDAQ: META), Apple (NASDAQ: AAPL), and Tesla (NASDAQ: TSLA) have also struggled on a relative basis.
Most dividend exchange-traded funds pay out every quarter. For many retirees, this does not align with how they spend money or budget, so it's worth looking into weekly ETFs like Roundhill Magnificent Seven Covered Call ETF (BATS:MAGY ) , and Nicholas Crypto Income ETF (NYSEARCA:BLOX ) . Weekly dividend ETFs are in very few people's bucket lists. They're a rare type of ETF, but they've done outstandingly well in the current environment.
The top 10 stocks contribute 54% of market returns since January 2021, with the Magnificent Seven driving significant risk exposure for investors.