In a July 31 post on

This group includes Google parent Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla, which have outperformed the rest of the S&P 500 since the market bottom in 2022.

So far, Microsoft has reported fourth-quarter earnings for fiscal 2024 ending June 30. Meta’s latest quarterly results are scheduled to be published on July 31, while Apple and Amazon will report on August 1.

The quarterly results of this market-leading group of tech giants could also be decisive for high-risk asset markets, including crypto, in the coming months.

Nvidia’s second-quarter earnings report is expected on August 28, but the semiconductor giant has lost $800 billion in market value since July 10, with its stock price falling 23%.

The company’s market cap is $2.55 trillion and its share price (NVDA) fell 7% on July 30, closing at $103.73. Microsoft stock (MSFT) fell 3.8% the same day and closed at $422.92 on July 30; Despite this, it delivered a better-than-expected earnings report on July 30.

The software giant is the world’s second largest company with a market value of $3.1 trillion, but it has lost 15% of its value in the last three weeks. Google’s parent company is the fourth largest of the seven with a market value of $2.1 trillion, but has lost 12% since July 10.

Shares of the company (GOOG) remained largely unchanged on the day, settling at $171.47 in after-hours trading. The tech giant reported second-quarter earnings of $84.72 billion on July 23, up 5.2% from the previous quarter.

Apple, the world’s largest company with a market value of $3.35 trillion, will announce its earnings report on August 1. However, Apple’s market cap has lost 9%, or $312 billion, since July 10.

Shares of the company (AAPL) closed unchanged on the day at $218.80, but are down 7% from their all-time highs earlier this month. E-commerce giant Amazon is the fifth largest company with a market value of $1.89 trillion. However, it has lost 12% of its value in the last three weeks. Share prices (AMZN) fell 1.5% on the day, falling to $180.90 in after-hours trading.

Amazon’s second quarter earnings report is expected to be released on August 1. Meta, formerly known as Facebook, has a market capitalization of $1.17 trillion and is ranked sixth in the Magnificent Seven. However, Meta has lost $257 billion, or 18%, in market value since July 10. The company is expected to release its second-quarter earnings report on July 31.

Shares of Meta (META) fell 2.5% to close at $463.19 on July 30. Elon Musk’s Tesla is the last member of the Magnificent Seven, with a market value of $711 billion, losing 19% of its value since July 10.

Tesla posted its lowest quarterly profit margin in five years on July 23 and reported fourth-quarter earnings that missed estimates. Shares of the company (TSLA) fell 9.4% to $222.62 on July 30.

By comparison, total crypto market cap rose 11% over the same three-week period, marking an early divergence.