TSLA - As Tesla Apple Slide Peter Schiff Sounds Alarm On Magnificent Seven Stocks: 'Calls Into Question The Prospects For The Other Five' | Benzinga
Peter Schiff expressed skepticism about the performance of certain high-profile stocks like Tesla Inc. (NASDAQ:TSLA) and Apple (NASDAQ:AAPL) among the “Magnificent Seven.”
What Happened: On Thursday, Schiff specifically highlighted Tesla and Apple, noting their decline as potential indicators of issues for the remaining five stocks in the group — Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA), Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN) and Meta Platforms (NASDAQ:META).
“Tesla, a Magnificent Seven stock is down 46%. That’s not so magnificent for those who bought near the top. Apple, another Mag 7 stock, is down 14%. So if one Mag 7 stock is in a bear market and another is in a correction, that calls into question the prospects for the other five,” he wrote on X.
Tesla, a Magnificent Seven stock is down 46%. That's not so magnificent for those who bought near the top. Apple, another Mag 7 stock, is down 14%. So if one Mag 7 stock is in a bear market and ...