It's time to bury the "Magnificent Seven" label for the cohort of tech stocks that have led the markets over the last few years. Quick insight: Thank you to Citi strategist Scott Chronert for calling a spade a spade: The Magnificent Seven — consisting of Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA) — has lost its luster. That, in turn, has led to weakness in the Magnificent Seven, as well as a hunt for the next market-defining basket of stocks. What's behind the move: All Magnificent Seven stocks have underperformed the S&P 500 (^GSPC) in 2026 except for Alphabet, which has notched a 11% year-to-date gain versus the benchmark index's 8.3% advance. The bottom line: The Magnificent Seven has expired as a useful seven stocks to follow religiously.