What is MAG 7?

The MAG 7 refers to a group of large technology companies. The material tracks their financial performance and market dynamics.

• Jun 2025 – Philippe Laffont said the MAG 7 grew revenue over 20% compounded over the prior three to four years while employee and opex growth was only 2%, a historically unprecedented ratio.
• May 2026 – Kai Wu said his base case is that these companies will not go bust but may face a re-rating lower due to becoming more capital intensive.
• Jun 2026 – Josh Brown said the MAG 7 are negative on the year as a group if equal weighted.
• Jun 2026 – Jack Farley noted that the positive correlation among MAG 7 stocks flipped negative after Google announced an $80 billion equity issuance.
• Jul 2026 – Michael Batnick said the MAG 7 weight in the S&P 500 is dropping considerably because the MAG 7 is underperforming by a wide margin.