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StocksMedium•29 June 2026•

1 min read

Magnificent Seven Slump Sends Momentum Stocks to Fourth Worst Performance in 22 Years

Key Facts

1Last week, the S&P 500 underperformed its equally weighted counterpart by 350 basis points.

2The Magnificent Seven slump sent momentum stocks to their fourth worst performance in 22 years.

Amid sector rotation in the U.S. market, momentum stocks posted their fourth worst performance in 22 years, according to reports from MarketWatch. The decline was triggered by a sharp slump in the Magnificent Seven stocks (AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA), which led the S&P 500 to underperform its equally weighted counterpart by 350 basis points last week—one of the largest spreads on record.

The weakness comes as investors appear to rotate away from large-cap growth names into defensive and small-cap values, per market data. At the June 26, 2026 close, most Magnificent Seven stocks traded lower from recent highs, with AAPL at $283.78, NVDA at $192.53, and TSLA at $379.71, according to EL7.AI data. Peer chip stocks such as AMD and INTC also showed price declines.

Technically, the stocks remain at levels that could see further volatility in the absence of clear catalysts for momentum names. Traders are watching for Q2 earnings from major tech companies and any comments from Fed officials for direction. In the near term, the $370 level for MSFT and $280 for AAPL may act as key support, while investors focus on interest rate signals and economic data to refine their strategies.