Tech's 'Magnificent Seven' Lose Over $1.2 Trillion Since July, But Still Up 50% In 2022

The "Magnificent Seven" megacap tech stocks have lost over $1.2 trillion in value since the market's July peak. Apple and Tesla saw the biggest declines.

As a group, the 7 stocks are still up 50% year-to-date despite the recent losses.

Apple has seen the largest drop, losing $480.7 billion in market value. Tesla lost $194.7 billion.

The stocks fell sharply after disappointing earnings from Tesla and Meta Platforms.

Some analysts see more weakness ahead due to bearish technical chart patterns, but the stocks rose Friday after strong Amazon earnings.