Keeping in mind that Alphabet is the only one of the Mag 7 stocks that has managed to outperform the S&P 500 in 2026.
The reason why 2026 specifically is interesting is because it wasn't until late December of last year that AI models started to demonstrate particularly interesting capabilities, while we finally got IPO announcements for OpenAI and Anthropic. Assuming that the market works at all, it should be pricing in these events.
What are you referring to here?
They have (massively) outperformed it in 2025 though.