The Magnificent 7 tech stocks lost more than $1 trillion in value on Nov. 5, according to Nigel Green, CEO of Devere Group. The losses were uneven: Tesla fell 10.77% and Nvidia 9.26%, while Apple declined 1.53%.
Green argued that investors would judge the companies more on their individual results, including AI revenue, customers and access to electricity. He saw signs that forced selling could be easing, but expected further volatility. His forecast that the group would continue to lead the AI boom, possibly with a different pecking order, was an assessment, not a measured outcome.
