Microsoft Corp. (NASDAQ:MSFT) has become the single biggest drag on the S&P 500 this year and all of the Magnificent 7 stocks are now acting as a deadweight on headline returns.
- MSFT stock is moving. See the chart and price action here.
MSFT is the Biggest Loser
Brian Sozzi at Yahoo Finance on Tuesday posted new S&P 500 attribution data from Bloomberg and Barclays Research that shows Microsoft has erased 140.4 basis points of index‑level total return year-to-date, far more than any other constituent.
Other mega‑cap growth darlings aren’t far behind on the losers list — in fact, the Magnificent 7 round out the top 7 detractors:
Nvidia Corp. (NASDAQ:NVDA) has shaved off 49.8 bps, Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) 46.8 bps, Apple Inc. (NASDAQ:AAPL) 44.5 bps and Tesla Inc. (NASDAQ:TSLA) 37.0 bps.
The pain extends to the rest of the Mag 7 cohort, with …
This post was originally published here