The stock market has been split into the magnificent world of the Magnificent 7 (Amazon, Apple, Alphabet, Meta, Nvidia, Tesla, and Microsoft), and everything else: the dreary existence of the 493 remaining S&P500 members.
Magnificent 7's parabolic rise has led to mounting concerns about Dot Com bubble 2.0 and overconcentration risks - many of which we have outlined, citing institutional research from Bank of America and JPMorgan:
