The dark clouds continue to hover over the once ultra-hot “Magnificent Seven” tech stocks, and retail investors are running for cover.
Retail investors accounted for a mere 6% of total Magnificent Seven trading volume over the five trading days ending last Friday, according to new research from Citi
That marks the lowest percentage in four years. Individual investors showed less interest in Magnificent Seven stocks during the past week than on roughly 85% of the trading days since 2022, Citi pointed out. By comparison, retail trading activity accounted for more than 20% of Magnificent Seven trading volume during some periods in 2023 and 2024.
It stayed above 15% for much of 2025. “Retail interest is shifting from the Magnificent 7 toward semiconductor stocks,” strategists at The Kobeissi Letter noted. The companies that make up the Magnificent Seven are Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META), Apple (AAPL), and Tesla (TSLA). Wall Street is growing increasingly impatient with Big Tech’s astronomical capital expenditures on artificial intelligence, projected to balloon 70% to exceed $700 billion this year.