The American Western film The Magnificent Seven is a 1960 classic directed by John Sturges and featured a star-studded cast of Hollywood tough guys that included Yul Brunner, Steve McQueen, Charles Bronson, Robert Vaughn, James Coburn, and Eli Wallach. In last week’s newsletter we briefly touched on a group of companies that, working off the original film’s title, have been coined “The Magnificent Seven” by CNBC’s Jim Cramer. This group of seven mega-cap companies include Alphabet (formerly Google), Amazon, Apple, Meta (formerly Facebook), Microsoft, NVIDIA, and Tesla. Combined, the market capitalization of these seven companies exceeds US$ 11 trillion. As of last Friday’s close, Apple alone surpassed the US$3 trillion mark making it the largest company in the world by market cap and slightly larger than the entire market cap of Canada’s S&P/TSX Composite Index!
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By Charles Marleau CIM® and William Mitchell CIM®
