{
  "id": 17252757,
  "title": "Tech-Aktien: „Die Ära der Magnificent Seven scheint vorbei“",
  "url": "https://urgent.news/2026/10/30/tech-aktien-die-ara-der-magnificent-seven-scheint-vorbei",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-30T16:09:34.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/finanzen/anlagestrategie/trends/tech-aktien-die-aera-der-magnificent-seven-scheint-vorbei/100266107.html"
  },
  "original_language": "de",
  "account": "The sell-off of tech stocks in the United States continued on Friday, with the Nasdaq 100 technology index losing more than two percent after falling 1.4 percent on Thursday. The main reason for the price correction is the disappointment of major tech companies with their quarterly reports. Experts speak of a new era on the stock market, with Alphabet's stock plunging 12 percent on Thursday, losing $482 billion in market value. Other tech giants fared no better: Facebook's Meta stock dropped 10 percent since the quarterly reports, while Amazon's stock fell slightly over six percent on Friday. Together, the three tech companies have destroyed $700 billion in market value, roughly equivalent to the total value of the three largest German DAX companies. Alphabet, Amazon, and Meta were once the driving force behind the US stock market, propelling major indices from record to record. They earned the nickname \"Magnificent Seven\" or \"Mag7\" in English. This name no longer fits, says analyst Sören Hettler of DZ Bank: \"The era of the 'Magnificent Seven' as a closed group of rising stocks seems to be over.\" This is confirmed by a calculation from Handelsblatt, which shows that the stocks of the \"glorious seven\" have developed differently from each other in recent weeks than they have in at least ten years. The comparison of the 60-day correlation shows that the growth of the seven major tech stocks is significantly different from each other. Only four of the major tech stocks are still rising. The correlation between the stocks has dropped to nearly 0.8 from a peak of almost 0.49 just a month ago. Previously, the seven stocks together accounted for 70 percent of the annual gain in the benchmark S&P 500 index. Now, however, only two members of the \"Magnificent Seven\" have managed to outperform the broader US index in the current year. Moreover, three representatives have a clear loss compared to the year-end level. The shift in focus towards Artificial Intelligence (AI) has made some large companies competitors, both in operating data centers and in the development and deployment of AI models. Investments in data centers are straining cash flows. Peter Reichel, chief investment strategist at the asset manager Oddo BHF, states that the time when the companies were largely traded as a homogeneous block is over. The magnitude of the overlap between the business areas has become clear from the quarterly reports of Alphabet. Revenue from online advertising has disappointed, as competition grows with AI. Meta recently launched its latest language model, Muse. But Alphabet, Amazon, Microsoft, and Meta are all competing in the cloud business, running large data centers and renting computing power, storage, and pre-built software over the internet. The AI boom has made this a massive growth area, but it is also making the business model much more capital-intensive. Capital expenditures of Alphabet, Amazon, Microsoft, and Meta are expected to total $754 billion in the current fiscal year, according to Bloomberg data. This has resulted in negative free cash flow for the quarter, showing that the companies are losing money rather than making it. This has implications for the stock market, says Reichel: \"Investors are increasingly asking not only who is investing the most in Artificial Intelligence, but who can translate these investments into growth, free cash flow, and attractive capital returns.\"",
  "summary": "Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia und Tesla haben die Börsen lange im Alleingang angetrieben. Nun zeichnen sich klare Gewinner und Verlierer ab.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}