Tech's Magnificent Seven Hit Record Highs Despite Tesla and Apple Slumps

The "Magnificent Seven" tech stocks now make up almost 30% of the S&P 500 index, more than several major sectors combined
The group has been buoyed by Nvidia, Meta, Amazon, Microsoft, and Alphabet, which have outperformed the broader market
Apple and Tesla shares are down 9% and 30% respectively in 2022 amid demand concerns
Tesla's stock slump has weighed down the tech group recently, as investors lack clarity on a recovery
Despite somepoor performers, the 7 tech giants combined have hit record index weighting due to a tech rally