The 'Magnificent Seven' tech companies, which include major players like Apple and Microsoft, are experiencing a deceleration in earnings growth, according to recent analyses. While the Magnificent Seven are projected to achieve a net income growth of 18% in the third quarter of 2024, the remaining 493 companies in the S&P 500 are only expected to see a modest 1% growth. Over the past year, the Magnificent Seven generated a total revenue of $1.9 trillion, a significant increase from $61 billion in 2004. However, the earnings growth gap between the Magnificent Seven and the other 493 companies is anticipated to narrow over the next two years, as indicated by reports from Goldman Sachs. In the last six quarters, profit growth for S&P 500 companies excluding the Magnificent Seven has been negative in five quarters, highlighting the critical role these tech giants play in the overall earnings landscape of the index.