Tesla Leads as Mag7 Group Sees Divergence Amid AI Concerns
The Mag7 group of tech giants saw significant divergence last week, with Tesla leading the way up 6.02% for the week and its 5-week trajectory trending upward.
Apple and Alphabet-A also improved, but Meta Platforms plummeted 6.77%, followed by NVIDIA down 4.64%. Microsoft and Amazon fell as well.
The market is concerned about the sustainability of AI capital expenditure and macro disruptions from Trump's tariff policy shifts.
Capital is rotating within the tech giants, shifting towards more defensive consumer electronics and EV sectors.