Published on 3 May 2024 on Motley Fool via Yahoo Finance
Here's How Much It Would Cost to Build Your Own Personal Equal Weight "Magnificent Seven" ETF
The "Magnificent Seven" is a term coined by Bank of America analyst Michael Hartnett to describe seven tech-focused mega-cap companies -- Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Nvidia (NASDAQ: NVDA), Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG), Amazon (NASDAQ: AMZN), Meta Platforms (NASDAQ: META), and Tesla (NASDAQ: TSLA).
Due to their size and leadership across many industries, these companies have a lot of influence over the trajectory of major indexes like the S&P 500 and Nasdaq Composite. Investors who want a piece of each company may be interested in building their own version of a Magnificent Seven exchange-traded fund (ETF) instead of buying an ETF with a high allocation in these companies.