SpaceX broke the idea of the "Magnificent Seven." Wall Street is now discussing MANGOS.
The space company's rise to $2 trillion and the pending debuts of OpenAI and Anthropic could change the list of top tech leaders
With SpaceX listing, it will become more difficult to use the old term Mag 7 as a synonym for a group of technology leaders / Photo: X/SpaceX
The rise of space company SpaceX to a capitalization of $2.1 trillion at the end of the first trades on June 12, allowed it to outperform two members of the "Magnificent Seven" - Meta and Tesla, which is also headed by Elon Musk . This caused analysts to question whether the term "Magnificent Seven" (Magnificent Seven) is still relevant, writes Reuters. It was coined in 2023 by BofA investment strategist Michael Hartnett. This is how he named the seven largest technology companies: Nvidia, Apple, Amazon, Alphabet, Meta, Tesla and Microsoft.
Analysts polled by Reuters predict that because other AI giants such as OpenAI and Anthropic are about to go public, the makeup of the group of major tech leaders will change, which means a new name is needed. A new market acronym, MANGOS, which includes Meta, Anthropic, Nvidia, Google (Alphabet), OpenAI and SpaceX, is already gaining traction on the X social network, Reuters reports.
BRI Wealth Management CEO Dan Boardman-Weston suggested another alternative - Magna Atoms. This list includes the "Magnificent Seven" companies, as well as SpaceX, OpenAI and Anthropic.
Such lists are not official categories, Reuters emphasizes, but merely labels. They are devised by strategists, investors and the media to highlight the largest and fastest-growing stocks at the moment.
What the market is saying
With SpaceX listing, it will become difficult to use the old term Mag 7 as a synonym for technological leadership, as one of the world's most important players will simply be left out of the picture, says Futurum Equities chief strategist Shay Boloor.
"The Mag 7 format has been around for several years. Perhaps the markets are ripe for something new," says Crewe Advisors Chief Investment Officer Dustin Thackeray.
However, not everyone expects the old label to finally fade into the past. "The name 'Magnificent Seven' isn't going anywhere," says Roundhill Investments CEO Dave Mazza. - It is too firmly entrenched in how investors and the media perceive the leadership of large-cap tech companies. We are likely to see the emergence of complementary terminology, not a complete replacement.
This article was AI-translated and verified by a human editor
