Magnificent Seven Dip: MSFT -17%, AMZN -14% 03/03/26
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Magnificent Seven Dip: MSFT -17%, AMZN -14% 03/03/26
Key Stories:
- Mega-cap tech stocks are currently experiencing their toughest stretch since 2022, with all seven members of the “Magnificent Seven” trading in the red year-to-date as of March 2026. Leading the declines, we’ve seen Microsoft, the software and cloud computing giant, tumble 17% while e-commerce and cloud leader Amazon is off nearly 14%. This significant downturn suggests a broader market rotation out of these high-growth names. Investors are closely watching for any potential catalysts that could spark a revival in these cornerstone technology companies. Read more
- Turning our attention to consumer spending, the latest data from the Nilson Report shows a remarkable milestone. Spending on goods and services via credit, debit, and prepaid cards issued in the U.S. soared to an unprecedented $10 trillion for the first time in 2025. This incredible figure highlights robust consumer activity, with credit cards still accounting for the majority at 50.42% of all spending, though slightly down from 50.50% in 2024. Notably, global payments network Visa saw its credit, debit, and prepaid card products generate a colossal $7.028 trillion in purchase volume alone, underscoring the continued dominance of these payment processing giants. Read more
- In dividend news, the RIG portfolio recently hit a new high, now boasting a yield near 6%, thanks to a flurry of dividend raises last month. Global payments network Mastercard stands out as a “core hold” within this portfolio, reflecting its stable growth and strong financial position. Additionally, pharmaceutical company Bristol-Myers Squibb (BMY), biopharmaceutical firm AbbVie (ABBV), and tobacco giant British American Tobacco (BTI) are also maintaining their positions as holds within the portfolio. These companies demonstrated dividend increases ranging from a modest 1.6% all the way up to an impressive 14.5%, providing a compelling income stream for investors in a diversified portfolio. Read more
Keywords: $10 trillion, ABBV, Amazon (AMZN), BMY, BTI, Magnificent Seven, Mastercard (MA), Microsoft (MSFT), Nilson Report, Visa (V), consumer spending, credit card, debit card, dividend investing, dividend raise, income stocks, market rotation, mega-cap tech, portfolio yield, stock decline, year-to-date