WS #11226
Mag 7 lost $2.3 trillion in market cap in June, with Microsoft down ~17% (worst since Dec 2000), as investors rotate away from AI bets; Asian tech stocks follow lower. Apple increased foldable iPhone production plans to 10 million units for 2026, up from 7-8 million, and plans five new iPhone models through early 2027.
Magnificent Seven Tech Selloff
Mag 7 lost $2.3 trillion in market cap in June, with Microsoft down ~17% (worst since Dec 2000), as investors rotate away from AI bets; Asian tech stocks follow lower.
Apple increased foldable iPhone production plans to 10 million units for 2026, up from 7-8 million, and plans five new iPhone models through early 2027.