The group known as the “Magnificent 7” now commands a significant financial power that surpasses that of most major countries around the globe, as per recent research from Deutsche Bank.
The rapid escalation of profits and market capitalizations of the Magnificent 7 U.S. tech giants – namely Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla – exceeds those of corporations in nearly all G20 nations, Deutsche Bank noted in a research report released on Tuesday. Only China and Japan (with the latter barely surpassing) have higher profits when aggregating the listed companies from their respective countries.
Analysts at Deutsche Bank emphasized that the combined market capitalization of the Magnificent 7 alone would position it as the second-largest stock exchange in the world, dwarfing Japan which holds the fourth spot. Notably, Microsoft and Apple, on their own, boast market capitalizations that align with the total combined listed companies in France, Saudi Arabia, and the U.K., according to the report.
Nevertheless, this consolidation of wealth has prompted some analysts to raise apprehensions regarding potential risks associated with the U.S. and global stock markets.
Source (CNBC)
