Part 7/10:
The tech giants, now referred to as the “Magnificent 7” (including Apple, Amazon, Google, and Nvidia), have seen stock surges that seem detached from their underlying earnings, reminiscent of the speculative boom preceding the dot-com crash. By integrating AI into their business models, these companies capitalized on the AI hype, stripping away the need for conventional profitability benchmarks that would typically dictate their market value.