CNBCยท2025-11-04 00:42Core Viewpoint - Concerns regarding market cap concentration in the Magnificent Seven are dismissed, with emphasis on their shared high growth rates rather than product offerings [1] Group 1: Market Performance - The Magnificent Seven, including Amazon, Alphabet, Meta, Apple, Microsoft, Nvidia, and Tesla, are highlighted as major market players, with Nvidia achieving a $5 trillion valuation [1] - The tech-heavy Nasdaq Composite index showed positive movement, indicating ongoing investor interest in tech megacaps [2] Group 2: Company-Specific Insights - Amazon's stock surged 10% following a strong quarterly report, particularly due to growth in its AWS cloud division, and added another 4% after announcing a $38 billion deal with OpenAI [3] - Despite their large market caps, companies like Amazon are noted for delivering some of the best growth, making them resilient investments amid macroeconomic challenges [4]