Global Tech Funds Draw $195 Billion as Magnificent Seven Q2 Earnings Beat by 66.2%
Updated
Updated · Yahoo Finance · Sep 1
Global Tech Funds Draw $195 Billion as Magnificent Seven Q2 Earnings Beat by 66.2%
3 articles · Updated · Yahoo Finance · Sep 1
Summary
$195 billion has flowed into global technology equity funds over the past 12 months, making tech the top destination among major sectors and exceeding the next nine sectors combined.
66.2% is how much aggregate second-quarter earnings from the Magnificent Seven topped estimates, versus 26.5% for the broader S&P 500, reinforcing bets that tech can withstand AI spending concerns and higher rates.
118.5% was the Magnificent Seven's second-quarter earnings growth rate—the strongest since at least late 2020—while the other 493 S&P 500 companies posted 31.8% blended growth.
Alphabet, Amazon, Micron, Nvidia and Chevron were the biggest contributors to S&P 500 earnings growth, underscoring how a handful of large companies continue to drive market confidence.