By 24/7 Wall St.
Publication Date: 2026-11-03 11:22:00
00:00 Eric Bleeker
Investors have been rushing to safe havens across the stock market, and that’s been good news for one stock you might not expect to be a safe haven. That’s Apple.
00:09 Eric Bleeker
I’m Eric Bleeker with 24/7 Wall Street and we are looking at a developing situation where six out of seven magnificent seven stocks are now underperforming the index in 2026. Let’s bring up the returns. Apple has seen a 27.1% return. The S&P 500 is at 11.7% gain. Nvidia below that level, 10%. Microsoft 8.6%, Amazon 4.1%, and then three of the magnificent seven are now in negative territory with Meta at -6.6%, Google at -10.4%, and Tesla at -11.1%.
00:46 Eric Bleeker
This is a reversal of what we’ve seen in recent years where technology stocks, especially the magnificent seven have driven a disproportionate amount of total returns. And here’s another stat that may kind of blow your mind a little bit that technology is now one of the only sectors trading for a cheaper Ford PE than its 30-year average. This data comes from Mike Zicardi.
01:21 Eric Bleeker
And we find consumer discretionary stocks trading at the 77th percentile, meaning they are more expensive than they have been 77% of the time. Consumer staples at the 90th percentile, industrials at 89%, health care at 81%, utilities at 84%, materials 75%, financials 67%. The only sectors that as far as their Ford PE, that are cheap right now, well, that would be technology at its…