NVIDIA, Microsoft, and Meta remain the authentic mainstays of AI trading; Apple and Tesla are clearly falling behind, with Google in the middle, and their performance is more related to business structure and management narrative.


The seven giants are no longer suitable for a lump-sum purchase: the profit growth rate forecast for 2026 has decreased from over 20% in previous years to about 18%, narrowing the gap with other S&P components, with valuations dropping from 40x to about 29x, entering a "stock picking rather than market picking" stage.
AI investment intensity is very high: only Microsoft, Google, Amazon, and Meta together are expected to spend over $650 billion on AI/cloud-related capital expenditures by 2026, and this money is the source of income for NVDA/AMD/INTC and the entire AI infrastructure.
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