Big Tech bargains surface as megacaps cool, fueling fresh buying hopes

After months of lagging performance, the Magnificent Seven look cheaper versus the broader market, with the Roundhill Magnificent Seven ETF (MAGS) hitting a multi‑month low on forward earnings. Some investors are rotating into other assets while a few portfolio managers are adding to names like Amazon, Microsoft and Meta, citing operating leverage and potential gains as AI spend unwinds. Near‑term catalysts include earnings season and the dollar’s direction, but gains may hinge on macro factors and earnings surprises amid ongoing tech volatility.