Mag 7 Stocks Shed $2.3 Trillion in June as Investors Rotate to Chipmakers
Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla have shed more than $2.3 trillion in combined market value over June, marking a 10% decline and the worst monthly performance for the group in over a year. The mega-cap technology stocks, widely tracked under the Mag 7 moniker, have faced renewed selling pressure as traders locked in gains following the sector's rapid appreciation driven by artificial intelligence enthusiasm.
The correction coincides with a broader market rotation toward semiconductor manufacturers viewed as the primary direct beneficiaries of enterprise and cloud spending on AI infrastructure. Capital has shifted away from software and consumer tech platforms toward chipmakers, reflecting a more selective approach to the rally that has dominated U.S. equity returns over the past two years.
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@cointelegraph🚨 NOW: Mag 7 stocks have shed over $2.3T this month, down 10% in June for their worst month in over a year, as investors rotate into chipmakers profiting from AI spending.