It's fair to say the broad market and "Magnificent Seven" stocks have seen better days. The Nasdaq Composite recently entered correction territory, and the index is down 8.1% year to date.
The "Magnificent Seven" isn't just a Western from 1960. It's also a group of tech stocks that led the Nasdaq (NASDAQINDEX: ^IXIC) to double-digit gains over the past two years.
GOOGL REVERSES EARLY WEAKNESS AFTER SIGNAL FROM TRADEPULSE
Anthropic, a San Francisco startup often cast as an independent player in the AI race, has deeper ties to Google than previously known. Court documents recently obtained by The New York Times reveal that Google owns a 14% stake in the company and is set to pour another $750 million into it this year through a convertible debt deal.
With the markets selling off a bit, investors should examine which dominant stocks are good bargains. Much of the fear driving the sell-off is a potential trade war triggered by President Donald Trump's tariffs (or threat of tariffs).
The Justice Department has dropped its bid to force Google to sell its artificial intelligence (AI) investments.
Artificial intelligence (AI) stocks have been getting slammed harder than the rest of the market recently as stocks sold off due to fears of a trade war. Many are down in the double digits, while the S&P 500 (^GSPC 0.55%) is down around 6% (at the time of this writing).
With the market pulling back recently, some nice bargains in the technology space have been created. While under some near-term pressure, the tech sector has been one of the best places to invest over the past decade.
Less than three months after the Nasdaq Composite (^IXIC 0.70%) set an all-time high, the tech-heavy index is on the verge of entering a correction, which is typically defined is a pullback of 10% or more from a recent peak.
The US Department of Justice is still calling for Google to sell its web browser Chrome, according to a Friday court filing.
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