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The SpaceX Era Is Making the Magnificent Seven Irrelevant
Investors are questioning whether the grouping of blue-chip mega-cap tech stocks still makes sense following SpaceX's stellar trading debut. Over the past five sessions, the stock has jumped 37% from its initial offer price of $135.That has given SpaceX a market capitalization of $2.45 trillion -- making it the U.S.'s sixth-most valuable company, worth more than electric-vehicle manufacturer Tesla and Facebook owner Meta Platforms as of Thursday's close.Both stocks are part of the so-called Magnificent Seven, alongside chip designer Nvidia, Google parent Alphabet, iPhone maker Apple, IT company Microsoft, and online retailer Amazon.com.But returns haven't been so magnificent in 2026. Microsoft has slumped 22% this year, dragged down by concerns about AI disruption, while Meta and Tesla are also trading in the red.SpaceX isn't the only mega-cap stock that has made the Magnificent Seven grouping a little redundant.Memory-chip maker Micron Technology has topped a trillion-dollar market ca
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