What is Mag7?

Mag7 (or ‘Mag 7’) refers to a group of seven large technology companies, often associated with massive capital expenditure and market influence. The main thread tracks their spending, performance, and expected earnings growth.

• Jun 2026 - Rajiv Jain noted that the cumulative capex of all Mag7 companies in their history was $1.5 trillion, but they are now discussing $3 trillion in just three years.
• Jun 2026 - Jack Farley stated that the only way to stop Mag7 hyperscale or share price underperformance is by curtailing their ‘drunken spending.’
• Jun 2026 - Jack Farley observed that memory is up 3x over the last few months while Mag7 is down year to date.
• Jul 2026 - Ben Carlson said that in 2027, analysts are expecting 19% growth for the Mag7 and 15% for the other 493, which would be a wonderful development.