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The magnificent seven are seven technology companies listed on the New York Stock Exchange (NYSE) which have been driving the bull trend in the S&P500 in early 2024. They are Nvidia, Apple, Amazon, Microsoft, Tesla, Meta (Facebook) and Alphabet. The chipmaker, Nvidia's share rose 240% in US dollars and on average the magnificent seven doubled their price during 2023 adding $5 trillion to their total market capitalisation. Together these 7 shares account for about one third of the S&P500 indexes' total value. The development and profits expected from artificial intelligence (AI) is a major part of the reason for their popularity.

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