Magnificent 7 Weekly Report: June 25, 2026
By The Numbers
- $154.31 — Nvidia's closing price on June 24, an all-time high set on the day of its annual shareholder meeting
- $4.84 trillion — Nvidia's market cap after the 4.3% surge, briefly making it the most valuable company on earth
- -5.8% — Tesla's single-day drop on June 23, its steepest fall in weeks
- -4.75% — Amazon's plunge on June 23 as hyperscaler spending scrutiny intensified
- $557.83 — Meta's price on June 24, well below its earlier highs as internal concerns weigh on the stock
One stock in the Magnificent 7 just hit an all-time high. The other six are getting beaten up. That split tells you everything about where the market stands right now.
Nvidia closed at $154.31 on Wednesday during its annual shareholder meeting, setting a record and pushing its market cap to $4.84 trillion. The chip company is running on its own engine right now. Every AI data center being built runs through Nvidia hardware. That story has not changed.
The rest of the group is a different picture. Amazon dropped 4.75% on Monday. Tesla fell 5.8% on Tuesday and kept sliding Wednesday. Meta is sitting near levels not seen in months. Microsoft is down hard from recent highs. This is not a market-wide selloff. It is a repricing of the companies spending the most on AI infrastructure without yet showing the returns to match.
This Week's Scorecard
Performance through Wednesday's close, June 24, 2026.
| Stock |
Price |
This Week |
| NVDA | $154.31 | +4.3% — Record high set at annual meeting; $4.84T market cap |
| AAPL | $293.08 | -1.0% — Holding up better than most of the group |
| GOOGL | $345.29 | -5.0% — Cloud capex scrutiny hits; $84.75B equity raise still digesting |
| AMZN | $234.27 | -4.8% — AWS growth not enough to offset $200B capex concern |
| META | $557.83 | -5.4% — Morale concerns mount; subscription model questioned |
| MSFT | $373.94 | -5.1% — Azure solid but capex bill coming due |
| TSLA | $375.50 | -7.4% — Worst week in the group; no clear near-term catalyst |
Nvidia Is Running Alone
On Wednesday, Nvidia held its annual shareholder meeting. The stock responded by closing at an all-time high. That is not a coincidence. Management used the event to lay out the next chapter of AI infrastructure demand. Every major cloud provider, every government AI initiative, every data center build is still bottlenecked by Nvidia chips.
Hold on. Let me stop here. This is not the same as the rest of the AI trade. Nvidia is not speculating on future revenue. It is selling the picks and shovels right now, today, to every company trying to build AI systems. The order book is real. The margins are real. At $4.84 trillion in market cap, investors are still willing to pay for it.
"When one stock in a seven-stock group sets an all-time record while the others drop 5-7%, the market is telling you something about where the real value is."
The Other Six: Capex Under the Microscope
Amazon, Microsoft, Alphabet and Meta have all made enormous bets on AI infrastructure. Combined they are spending hundreds of billions of dollars. The market was willing to give them a pass when rates were lower and growth was accelerating. That patience is wearing thin.
Amazon dropped 4.75% Monday on fears that its $200 billion annual infrastructure commitment is outrunning near-term returns. Alphabet is down 5% this week even after upsizing an $84.75 billion equity raise, which tells you investors see dilution, not opportunity. Meta lost more than 5% as questions about its subscription model and a report on falling internal morale spooked the crowd.
It's kinda like funding a new highway system before the cars exist. You need to build the road. But there's a period where the bill is very visible and the traffic is still hypothetical. That is where these companies are right now.
Tesla: The Longest Road Back
Tesla fell 5.8% on Tuesday and another 1.6% Wednesday. That puts it at roughly $375, down more than 7% on the week and the worst performer in the group. You don't have to trust me. Trust the chart. The pattern of lower highs and lower lows that has been forming since spring is still intact.
There is no single catalyst driving this. No product recall. No earnings miss. It is a slow grinding repricing. Some of it is Elon Musk's time split. Some of it is EV competition from overseas. Some of it is just a stock that ran hard and is now finding its floor.
P.S. Nvidia just became the most valuable company in the world by market cap. That happened in the same week the rest of the Magnificent 7 collectively shed hundreds of billions in value. The divergence is not subtle. Pay attention to it.
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