The economist who coined the phrase ‘Magnificent 7’ says the very thing that made them extraordinary is under threat
It was May 2023 when Bank of America’s Michael Hartnett took inspiration from the Wild West, coining the phrase “Magnificent 7” for a group of American companies that have proved to be the main driver of the stock market during an AI boom. And while the Mag 7—Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla—remain…