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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In one of the largest tech corrections in years, about $2.3 trillion was wiped off the market value of the Magnificent 7 stocks — Microsoft, Nvidia, Alphabet, Apple, Meta, Tesla, and Amazon — in June 2026, according to a CNBC report. The selloff was driven by escalating investor jitters over massive AI capital expenditure that may not yield timely returns, prompting traders to reduce exposure to mega-cap names most vulnerable to high infrastructure costs.
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Sign InDespite the scale of the selloff, selectivity remains, with chipmakers such as AMD and TSMC drawing relative interest while Intel also declined. AMD closed at $539.49 and TSMC at $455.10 on June 29, per market data. This reflects cautious optimism toward companies that directly benefit from the AI boom, even as valuation pressures persist on the parent firms.
At the close of June 29, the stocks showed varied levels: Apple at $281.74, Amazon at $240.14, Google at $353.65, Meta at $562.60, Microsoft at $368.57, Nvidia at $194.97, and Tesla at $411.84. Investors now await Q2 earnings and corporate guidance on AI capex plans, as any signals of delayed returns could trigger another wave of selling.