Today’s Chart of the Day shared by @KobeissiLetter on X, formerly known as Twitter, shows that seven companies, often called “The Magnificent Seven” consisting of Facebook, Amazon, Apple, Microsoft, Google, Tesla, and Nvidia, have provided a 54% year-to-date return, while the remaining 493 of the S&P 500 have only generated 4%. Another way to look at it is that seven stocks produced 60% of the year-to-date return of 15% for the S&P 500. The odd thing is that even with these fantastic returns, all are down from their record high prices at the start of 2022. For instance, Amazon is down 33%, Tesla is down 40%, and Apple is down 13% from their previous record high prices.
Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.
Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.
