Apple’s Magnificent Seven Weight Drops Below 18% as Nvidia Hits 23%
Apple's weight in the Magnificent Seven fell from nearly 30% at the S&P 500's October 2022 bear-market low to below 18% today, while Nvidia surged to about 23%. Over the bull market, Apple added $1.8 trillion in market value versus Nvidia's $5 trillion, making Apple a top drag in pullbacks.
1. Shifting Index Weights
At the S&P 500 bear-market low on October 12, 2022, Apple accounted for nearly 30% of the Magnificent Seven’s combined market value, but its share has since declined to below 18% while Nvidia’s share climbed to roughly 23%.
2. Comparative Market-Cap Growth
Throughout the bull market, Apple added about $1.8 trillion in market-cap dollars compared with Nvidia’s roughly $5 trillion gain, and Apple ranked as a leading drag on the group during two major pullbacks, including from July to October 2023 and late 2024 to April 2025.