---
title: "Hartnett: The Macro, Momentum And Misfit Trades"
description: "The article discusses the recent surge in the market capitalization of the seven largest tech companies, which briefly exceeded 31.8% of the S&P 500 following strong earnings from META and MSFT. Howev"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/251307404.md"
published_at: "2025-08-03T01:56:28.000Z"
---

# Hartnett: The Macro, Momentum And Misfit Trades

> The article discusses the recent surge in the market capitalization of the seven largest tech companies, which briefly exceeded 31.8% of the S&P 500 following strong earnings from META and MSFT. However, this increase was followed by a selloff after the latest payroll data, marking the first 1% drop in the S&P since June. The piece questions whether this marks the end of a rapid market rebound or merely a pause in an overbought market.

After this week's (short but sharp) meltup by the Mag7 names following blowout earnings by META and MSFT (if not so much AMZN and AAPL), the market cap of the 7 largest tech names as a percentage of the S&P500 briefly surpassed their previous all time high of 31.8% set in January of 2025. It then, however, quickly reversed after Friday post-payrolls selloff, which saw the first 1% drop in the S&P since June 13.

So with just 7 stocks now accounting for **literally a third of the S&P's market cap,** is this where the broader investing population finally calls time on the biggest and fastest rebound in history (from the April lows), or is this just the pause to a massively overbought market that refreshes?

### Related Stocks

- [META.US - Meta Platforms](https://longbridge.com/en/quote/META.US.md)

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---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
