Citi says "Magnificent Seven" label no longer makes sense – time to retire it
Strategists at Citigroup argue that the "Magnificent Seven" label for the top seven tech giants has run its course, as the group is underperforming the broader market this year. They draw a parallel with the earlier FAANG acronym, which also fell out of use. The analysts say the companies now diverge too much to be treated as a single cohesive group.
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