T. Rowe Price Manager Drops Tesla From Mag 7, Picks a Replacement
Fund manager David Giroux ousts Tesla from his Magnificent Seven and taps a new tech giant to take its crown.
David Giroux, the high-profile fund manager at T. Rowe Price, just rewrote the Magnificent Seven rulebook — and Tesla didn't make the cut. He's swapped out Elon Musk's EV maker for a different tech heavyweight he believes deserves the elite label more. That's a bold call, and if you're holding Tesla as a must-own mega-cap, it should make you think twice.
Giroux isn't doom-scrolling on Big Tech either. He's on record saying the sector isn't in bubble territory — a contrarian stance worth noting when half the Street is muttering about stretched valuations. His view: the dominant platforms still have real earnings power backing up their prices, not just hype.
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But here's the tradeable angle beyond the tech debate — Giroux is also waving a flag at healthcare and utilities as value plays right now. Those are sectors that don't get Magnificent Seven headlines, but they're where he sees mispriced opportunity. If a manager of his caliber is rotating attention there, that's signal, not noise.
For retail traders, the takeaway is simple: the Mag 7 label has always been more marketing than gospel. Giroux is reminding you that these groupings shift, and blindly riding a basket because it's got a catchy name is a strategy, just not necessarily a good one. Know what you own and why.
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