How have the Magnificent Seven stocks fared since Trump tariffs?

It has been a historic past few days for the stock markets, with markets recording their worst two-days losses since the pandemic last week.

Things were a little better on Monday, as the indexes, while extremely volatile, were mixed as of Monday afternoon. The Nasdaq and S&P 500 were trending higher, while the Dow Jones Industrial Average and Russell 2000 were down.

Technology sector stocks were hot the hardest, dropping about 10% last week as the Nasdaq index fell into a bear market – down about 22% since mid-February.

The largest and most influential stocks on the Nasdaq, the so-called Magnificent 7, were all reeling from the shocking and sweeping tariff announcement.

It exacerbated what has already been a rough year for the Magnificent 7. Here’s how they have performed over the past few days. Are any of Mag 7 stocks worth buying on the dip?

Which mag seven stock has held up the best?

Among the Magnificent 7 stocks, Alphabet has held up the best, only shedding about 5.2% since the close of the market Wednesday April 2 until Monday April 7 at 2:00 p.m. Alphabet was trading at about $150 per share and is down roughly 21% year-to-date.

But Alphabet (NASDAQ:GOOG) had by far the lowest valuation of the Magnificent 7, which is a big reason why it did not fall as far. Alphabet stock is trading at just 18 times earnings, which makes it a stock to seriously consider buying on the dip. While there is great uncertainty with much volatility expected, a low valuation should put a mega stock like this on your radar.

Next is Microsoft (NASDAQ:MSFT), which is down about 5.8% since the tariffs were announced to about $360 per share. Microsoft stock is down about 15% YTD, and it has a fairly reasonable P/E ratio of 29, with a forward P/E of 24. That’s a pretty good valuation, too, for such a powerhouse company.

In the middle of the pack during this tariff selloff is Amazon (NASDAQ:AMZN) down 10.4%, Meta Platforms (NASDAQ:META), off 10.8%, and NVIDIA (NASDAQ:NVDA), also down 10.8%.

Of the three, Meta has performed the best this year, down 11% YTD, and has very reasonable valuation of 21, down from 27 in January. That also makes it a more attractive option on the dip.

Amazon stock has dropped roughly 20% YTD, and its P/E has dropped to 31, which is certainly better than it was at 47 at the start of the year. But Amazon has a somewhat cloudy outlook for 2025.

NVIDIA has fallen about 27% YTD and a similar P/E as Amazon at 32. NVIDIA’s P/E is down from 47 at the start of the year and 62 in October. NVIDIA is getting closer to the buy zone and still has tremendous earnings power.

Tesla and Apple have been hit the hardest

Apple (NASDAQ:AAPL) stock has struggled compared to its Mag 7 peers over the past year, due to slower sales growth of its iPhones. Now the tariffs are taking a bigger bite as Apple does most of its manufacturing – and sales – overseas. So, the tariffs are having a major impact.

Apple stock is down about 19% since the tariff announcement to about $180 per share. Apple stock is off nearly 28% YTD. It has a reasonable P/E of 30, but it has bigger headwinds than the others.

Finally, Tesla (NASDAQ:TSLA) stock is off 17% since the tariff announcement and 43% YTD. Tesla CEO Elon Musk has broken with Trump over tariffs, saying there should be zero tariffs between Europe and the U.S.

Tesla stock has been struggling due to a dramatic drop in sales, brand damage stemming from Musk’s DOGE role, and now the threat of tariffs raising prices on cars.

The stock is still extremely overvalued with a P/E of 117. Of all the Mag 7 stocks, investors should be most cautious about Tesla, followed by Apple.