The recent sell-off action in the stock market has not spared even the highfliers like Netflix, AMD, Micron, Dell, and Palantir. These stocks, often considered part of the “Magnificent Seven,” have also been hit hard in the midst of the latest market rout.
For instance, Netflix stock has seen a decline of over 10% from a month ago, causing some on Wall Street to raise concerns about the overall health of the market. Mizuho analyst Jordan Klein noted that when a stock like NFLX drops over 9% in a single day, it indicates a level of panic among investors.
Despite recent criticisms about Netflix’s heavy content spend and potential engagement challenges, Klein pointed out that the company still has strengths such as zero tariff risk, pricing power, and a sense of being recession-proof. However, the significant drop in the stock price suggests that investors are looking to reduce their exposure to equities at this time.
Other non-“Mag 7” players have also experienced significant losses in the past month. AMD and Micron have seen declines of around 13% and 6%, respectively. Palantir, once a momentum play on Wall Street, has seen its shares plummet by 30%. Similarly, Dell stock has tumbled by approximately 20% over the same period.
These trends highlight a broader sentiment of caution among investors, as they look to reevaluate their positions in light of the recent market volatility. It remains to be seen how these highflying stocks will fare in the coming weeks and whether they will be able to regain their previous momentum.
