Losses in the technology stock group known as the "Magnificent Seven" have reached remarkable levels recently. There was a total decrease of 2.6 trillion dollars in market value in the last day alone. This development may lead to selling pressure in high-risk investment instruments.

The Magnificent Seven, which consists of high-performing technology stocks such as Nvidia and Microsoft, has lost $2.6 trillion in market value in the last 20 days. In its article published on X on July 31, economic news site The Kobeissi Letter stated that the Magnificent Seven lost three times the value of Brazil's entire stock market during this period.

This group includes Google's parent company Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. Microsoft announced its fourth quarter earnings report for fiscal 2024 ending June 30. Meta's last quarter results will be announced on July 31, while Apple and Amazon will report on August 1.

The quarterly results of this market-leading group of tech giants could determine the direction of high-risk asset markets, including cryptocurrency markets, in the coming months. Nvidia's Q2 earnings report won't be released until August 28, but the company has already experienced a 23% stock decline, resulting in a market cap loss of $800 billion since July 10.

Although Microsoft stock (MSFT) delivered a better-than-expected earnings report on July 30, it lost 3.8% on the day and closed at $422.92. Although the software giant is the second largest company in the world with a market value of $ 3.1 trillion, it has experienced a 15% decline in the last three weeks.

Apple is the world's largest company with a market value of $3.35 trillion. However, Apple's market value has decreased by 9% since July 10, meaning it has lost approximately $312 billion. Shares of the company (AAPL) remained unchanged on the day, but were down 7% from their all-time highs earlier this month.

E-commerce giant Amazon is the fifth largest company with a market value of $1.89 trillion. However, it has lost 12% of its value in the last three weeks. Amazon's stock (AMZN) prices fell 1.5% on the day, falling to $180.90 in after-hours trading. Amazon is expected to announce its second quarter earnings report on August 1.

Meta, the company formerly known as Facebook, is the sixth of the Magnificent Seven with a market value of $1.17 trillion. However, Meta has lost $257 billion, or 18% of its market value, since July 10. The company is expected to announce its second quarter earnings report on July 31. Meta stock (META) fell 2.5% on the day, closing at $463.19 on July 30.

Elon Musk's Tesla is the last member of the Magnificent Seven with a market value of $ 711 billion. However, Tesla has also suffered a 19% loss in its capital since July 10. The company reported its lowest quarterly profit margin in five years on July 23, and earnings per share forecasts were also missed in the fourth quarter. Tesla stock (TSLA) fell 9.4% to $222.62 on July 30. By comparison, total crypto market cap rose 11% over the same three-week period, signaling an early recovery.

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