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Citi Strategist Expands 'Magnificent Seven' to Include Broadcom, Micron, AMD as AI Winners Reshape Market

2026-07-21 03:22:30

AVGO2.00%

MU2.00%

AMD1.62%

According to Yahoo Finance, Citi strategist Scott Chronert recently recommended expanding the 'Magnificent Seven' tech giants to include Broadcom (AVGO), Micron (MU), and AMD, arguing the original framework no longer reflects the true drivers of market gains. Chronert noted that framing the market as the "Magnificent Seven versus 493 other companies" has become misleading, as smaller groups of AI infrastructure beneficiaries outside the original seven are now leading earnings growth. The expanded 10-company grouping's contribution to 2026 S&P 500 earnings growth is expected to exceed the market consensus growth rate by more than half. Year-to-date, six of the original seven underperformed the broader index; only Alphabet has outperformed with an 11% gain compared to the S&P 500's 8.3% advance.

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