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Investing.com -- Tesla (NASDAQ:TSLA) is leading the premarket losses among the Magnificent Seven stocks on Monday, while Nvidia (NASDAQ:NVDA) is the only stock in the group to see a rise ahead of its highly anticipated AI conference.
Investors in the chip giant, Nvidia, are looking forward to a keynote speech from the company’s Chief Executive, Jensen Huang. They hope that his speech can bring a new wave of optimism and momentum to the stock, which has been lagging recently.
Nvidia’s stock is up by 0.9%, however, it has experienced a 9.4% drop this year. Among the Magnificent Seven, or Mag 7, stocks, Tesla’s shares have fallen by 1.7%.
Other members of the group, including Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT), have seen a 0.6% drop, while Apple (NASDAQ:AAPL)’s shares have declined by 0.5%. Alphabet (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN), also part of the Mag 7, have experienced a 0.4% decrease in their stock values.
The Bloomberg Magnificent 7 index, which is an equal-weighted measure of these stocks, has seen a 13% decrease this year. This follows a significant increase in previous years, with the index jumping 67% in 2024 and doubling in 2023.
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