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2 Reasons Amazon Is the Best AI Stock of the "Magnificent Seven"
The "Magnificent Seven" refers to a group of seven American technology giants that are the dominant players in their markets. The term was coined by Bank of America analyst Michael Hartnett in 2023 because of their massive influence on the U.S. stock market and their ability to substantially outperform the overall market's gains.It is worth noting that the Magnificent Seven companies account for just over a third of the S&P 500 index's combined market cap as of May 2025. That's nearly triple when compared to 2015 when these tech giants made up around 12% of the S&P 500 index. This clearly shows the stock market dominance of these seven companies, many of which are now capitalizing on the rapid proliferation of artificial intelligence (AI).Image source: Getty Images.Continue reading
The "Magnificent Seven" refers to a group of seven American technology giants that are the dominant players in their markets. The term was coined by Bank of America analyst Michael Hartnett in 2023 because of their massive influence on the U.S. stock market and their ability to substantially outperform the overall market's gains.
It is worth noting that the Magnificent Seven companies account for just over a third of the S&P 500 index's combined market cap as of May 2025. That's nearly triple when compared to 2015 when these tech giants made up around 12% of the S&P 500 index. This clearly shows the stock market dominance of these seven companies, many of which are now capitalizing on the rapid proliferation of artificial intelligence (AI).
Image source: Getty Images.
