Magnificent 7 Stocks Experience Significant Year-to-Date Declines
The 'Magnificent 7' tech stocks have declined sharply since peaking in mid-May, with some down over 30% from their 52-week highs. This underperformance is attributed to rising capital expenditures on AI infrastructure and concerns about potential Fed rate hikes.
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Topics: AI spending Fed rate hikes free cash flow Magnificent Seven tech stocks