The Numbers Are Staggering – The Magnificent Seven stocks now carry a combined market cap larger than the GDPs of Germany, Japan, India, and the UK combined. Meanwhile, 2025 tech-sector capital expenditures rivaled the peak-year spending of the Manhattan Project, rural electrification, the Apollo moon shot, and the Interstate Highway System — all at once.
Small-cap stocks have provided a return pattern quite different from large-cap stocks. Typically, small caps either race ahead of larger companies or else fall behind. They’re rarely in synch.
