Magnificent 7 Weekly Report: May 28, 2026Magnificent 7 Weekly Report: May 28, 2026 The Magnificent 7 turned in a mixed week as a shortened holiday schedule and a wave of news created winners and laggards across the group. Memorial Day closed markets Monday, leaving two trading sessions to establish direction. Tesla led the group higher. Nvidia led it lower. Most of the others finished within a percentage point of where they started. Here is where each stock stood at Wednesday's close and what drove the week. ## This Week's Scorecard The table below shows Wednesday's closing price and the change from the prior Friday close (May 22). ## The Big Stories **Nvidia had the most newsworthy week of any stock in the group and still finished lower.** On Wednesday, CEO Jensen Huang announced plans for a new Taiwan headquarters valued at approximately $5 trillion, with construction starting this year. He also revealed Nvidia will increase its annual investment in Taiwan from $10-15 billion to $100-150 billion. He called Taiwan the "epicenter of the AI revolution." The stock fell anyway. This is what a fully priced market looks like. Nvidia just reported $81.6 billion in Q1 revenue, an 85% increase from a year ago, with data center alone at $75.2 billion. The news on Wednesday was extraordinary. The problem is that extraordinary is already the expectation. **Tesla got a week's worth of tailwinds.** European EV sales jumped 46.5% across the EU in April. A Wall Street firm upgraded the stock specifically on the robotaxi thesis. And speculation about a potential merger with SpaceX, timed to SpaceX's anticipated IPO, sent the stock higher on Wednesday. At $437, Tesla is up nearly 30% year-to-date. The SpaceX connection is the wildcard. If that merger speculation gains traction before the June IPO window, the stock could move significantly. **Meta launched paid subscriptions.** Facebook Plus and Instagram Plus launched at $3.99 per month. WhatsApp Plus at $2.99. Meta has 3 billion daily active users across its family of apps. Even modest conversion rates on a subscription model add meaningful revenue. The shares finished the week essentially flat but the business model is quietly evolving toward something more predictable. **Alphabet is still trading on Google I/O momentum.** The May 19-20 developer conference unveiled new Gemini models, AI-enhanced search monetization, and a $15 billion AI data hub investment in Missouri. The stock was the second-best performer in the group this week. Analysts at 247WallSt published a piece this week predicting Alphabet reaches the $5 trillion market cap club ahead of schedule. **Apple is in the quiet period before WWDC.** No major product news, but iPhone 18 Pro speculation and the June developer conference keep a floor under the stock. Up slightly for the week on no specific catalyst. **Microsoft pulled back modestly.** The Microsoft 365 E7 bundle with Copilot launched May 1. Early signals suggest users find the integration useful but the rollout has been slower than hoped. No major negative news. The slight decline reflects a rotation more than any fundamental concern. **Amazon is spending its way into the future.** The company disclosed it will spend approximately $200 billion on data centers and AI infrastructure in 2026. An AWS data center outage earlier in May from a thermal event at a Virginia facility highlighted execution risk, but the market treated it as a one-time event. Alexa+ expanded internationally. Amazon is up about 14% year-to-date despite the spending pressure on free cash flow. ## Bottom Line The week belonged to Tesla on price and Nvidia on headlines. The divergence between Nvidia's results and its stock reaction is the most important signal in the group right now: investors are not surprised by extraordinary, they expect it. Companies that can't keep exceeding the expectation get marked down regardless of the underlying business. Salesforce and Marvell both report after Wednesday's close. Their results feed into Thursday sentiment for the entire tech complex. The Mag 7 as a group remain the backbone of this market. Until that changes, the direction of these seven stocks is the direction of the market.