The "Magnificent Seven" refers to a group of the world's largest technology stocks, which have a combined market capitalization of $12.7 trillion. Given that sheer size, they represent 28.7% of the total value of the S&P 500 index, which means they have a huge influence over the general direction of the entire stock market.

The chart below shows the Magnificent Seven stocks and their individual returns in 2023:

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Source Fool.com