Big tech trade shudders just as stock pickers make a comeback

July 27, 2024

With the so-called Magnificent Seven accounting for a historic share of this year’s equity rally, the blind love affair with capitalization-weighted indexes appears to be on shaky ground. Retail and institutional investors are looking to diversify into new market winners by sinking cash into everything from consumer stocks to health care – regardless of the sorry track record for anyone trying to beat the tech-driven market.

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