Magnificent 7 Stocks Lose $1 Trillion, but Their Shift Is Just Beginning: Devere CEO

Devere Group CEO Nigel Green said the Magnificent 7’s $1 trillion market-value loss does not undermine the case for technology stocks, arguing instead that investors are entering a more selective phase in which they demand evidence that AI spending is translating into revenue. Green framed the drawdown as a shift in how investors buy tech rather than an end to the trade, with capital likely to rotate toward companies that can demonstrate tangible AI-driven earnings. The comments position the selloff as a discipline mechanism for a market that had rewarded AI exposure broadly, and they imply that dispersion within the group could widen as results separate credible monetizers from pure spenders. What to watch next is whether upcoming earnings and AI revenue disclosures validate Green’s selectivity thesis or deepen the de-rating across the sector.