On its face, 2025 has been a good year for the stock market. The S&P 500 was dragged out of its tariff-induced springtime slump by a small subset of AI-forward power players whose spectacular gains defied an otherwise softening economy. Even now, despite a rocky November, the benchmark index is up more than 12 percent since the start of the year. A group of trillion-dollar brands known as the “Magnificent Seven” – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla – has been at the foref
