In recent years, when people talked about Wall Street and technology, the thought immediately ran to the "Magnificent 7" Apple, Microsoft, Nvidia, Tesla, Amazon, Meta e A. These giants have dominated the markets and driven the Nasdaq for a long time. But 2025 marks a turning point: something has changed. The landscape is renewing itself, and a new group of technology stocks are taking center stage, earning the title of “new 7 queens” of the Nasdaq.
Wall Street, from crash to rally: the surprising rebound of the Nasdaq
The Nasdaq 100 has had a difficult few months. April 8, 2025 the index touched an important low, with a drop of 23% compared to previous highs. It was the lowest point of a period marked by geopolitical tensions, macroeconomic uncertainty and generalized distrust. Then, however, a powerful rebound. In just over two months, the technology stock market has gained 30%, returning to positive territory since the beginning of the year and marking new all-time highs on June 24, with an overall performance of +5,7%.
A recovery driven by the tech sector, and in particular by some emerging stocks. A notable result, even if still distant from the numbers of other indices such as the Ftse Eb (+ 15,5%), the Dax (+ 18%) and Madrid (+ 21%).
Why the Traditional Magnificent Seven Are Slowing Down
Despite the general recovery, the traditional “Magnificent Seven” are struggling to keep up. Apple , Tesla e A (Google), for example, had a negative impact on the performance of the Nasdaq 100: -194,65, -61,8 and -64,77 basis points respectively. Overall, the historical group closed the first half of the year with an average performance of -0,22%.
The context did not help. In April, the agency Moody'sha US public debt rating downgraded, fueling investors' fears. During the same period, the dollar hits lows of the last three years, while the bond yieldshave risen, in contrast to what one would expect in phases of "flight to safety". Meanwhile, two important international economic organizations, IMFe OECD, have cut growth forecasts of the United States for 2025: 1,8% and 1,6% respectively.
Stock market chart analysis also raised alarm signals: on April 11, an event called “deathcross”, the downward crossover between the 50-day and 200-day moving averages that often heralds a period of market weakness. In those days, the famous “Fear & Greed Index” – which measures the emotionality of investors – was at an all-time low, a sign of strong fear. But right at that moment a turning point came: on April 9, the Nasdaq recorded its best day on the stock market since 2008. And from there, the tone of the markets changed: out of 52 subsequent trading days, 35 were positive.
New Stock Record: Palantir, Zscaler, Netflix Drag Nasdaq
Leading this new phase are old glories along with better performing emerging names: ecosystem, Netflix, Palantir (specializing in advanced big data analytics for businesses and governments), Nvidia, Meta, Broadcom (specializing in semiconductors for network infrastructure), and Micron (a leading player in the memory and storage solutions sector). In terms of percentage gain, Palantir leads the way with a gain of +89,4% year-to-date, followed by Zscaler with a +71%. Netflix has set 26 new all-time highs in the first six months of 2025, Palantir has marked 18, Meta 17 and Microsoft 8. On the contrary, Apple e Tesla did not record any new highs, while Nvidia stopped at just one.
These numbers are also reflected in the composition of the QQQ ETF, which tracks the Nasdaq 100. In December 2024, Apple was the heaviest stock with 8,76%, but today it has fallen to 7,3%. Microsoft has risen to 8,9%, surpassing Nvidia (8,8%). Netflix has risen from 2,4% to 3,2%, while Palantir has entered the top 20 for the first time with a weight of 1,9%. The Microsoft, Netflix and Palantir trio alone have contributed 57% of the entire index's positive performance since the beginning of the year.
Wall Street: The Future of Tech on the Stock Exchange Has New Faces
According to experts, this change in leadership is not an isolated episode. In fact, since 2022, the new "7 queens" have consistently outperformed the old stars of Wall Street. In 2024, for example, these new actions have gained 112%, against 61% of the classic “Magnificent 7”. And now, in 2025, they consolidate their rise in a context dominated by the selectivity of investors, more attentive to concrete results than to simple reputation.
This trend suggests that the technology market is evolving and rewarding new companies that are more dynamic, innovative and perhaps better positioned to meet the challenges of the future. Today, the Nasdaq 100 is no longer driven only by the glories of the past. And the future could have new names on the cover.
