Most ‘Magnificent Seven’ stocks are seeing declines in crowding

The Magnificent Seven stocks’ long crowding scores have been declining since the first half of this year, except for Apple (AAPL) and Tesla (TSLA).

Apple Inc. (AAPL) is the most crowded one of the group, according to Citi analysts in a note.

Tesla (TSLA) saw a significant decrease in long crowding score since the end of the second quarter.

Citi analysts define crowding as “something that often happens in the latter stages of the life cycle of a stock, where the market has a consistent view on the stock – a risk factor.”

The Magnificent Seven stocks and their long crowding scores as of Sept. 13:

• Nvidia (NVDA) – 87% (Decreased 11 percentage points since end of Q2)
• Microsoft (MSFT) – 55% (Decreased 38 percentage points since end of Q2)
• Alphabet (GOOGL) – 80% (Decreased 17 percentage points since end of Q2)
• Apple (AAPL) – 95% (Increased 1 percentage point since end of Q2)
• Meta Platforms (META) – 87% (Decreased 10 percentage points since end of Q2)
• Amazon (AMZN) – 35% (Decreased 33 percentage points since end of Q2)
• Tesla (TSLA) – 43% (Increased 27 percentage points since end of Q2)