The Magnificent Seven, a group of leading technology stocks including Apple and Tesla, reached a new all-time high, significantly outperforming the broader S&P 500 index. Since the beginning of 2023, the Magnificent Seven's stock prices have increased approximately 150%, while the S&P 500 rose by only 35% during the same period. Currently, the Magnificent Seven constitutes about 31% of the S&P 500, with a combined market capitalization surpassing that of the stock markets of Germany, Canada, the UK, and France. The group is on track for its second consecutive annual gain exceeding 50%, following a remarkable 110% return in 2023. The average price-to-earnings (P/E) ratio for the top 10 companies in the S&P 500 is nearing 50, indicating heightened valuations in the market. Despite the recent highs, the forward P/E ratio for the Magnificent Seven has remained relatively stable compared to the peak levels seen in 2020.