매그니피센트 7 (Magnificent 7)

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From Magnificent to Lagnificent: When Tech Giants Hit the Snooze Button

한때 미국 증시를 주도하며 ‘매그니피센트 7(Magnificent 7)’으로 불리던 빅테크 기업들이 최근 ‘래그니피센트 7(Lagnificent 7)’으로 전락할 위기에 처해 있다는 우려가 제기되고 있습니다. 이러한 변화는 투자자들에게 새로운 전략과 시각을 요구하고 있습니다.​

‘매그니피센트 7’이란?

‘매그니피센트 7’은 애플(Apple), 마이크로소프트(Microsoft), 아마존(Amazon), 알파벳(Alphabet, 구글 모회사), 메타 플랫폼스(Meta Platforms, 페이스북 모회사), 테슬라(Tesla), 엔비디아(NVIDIA) 등 7개의 거대 기술 기업을 지칭하는 용어입니다. 이들 기업은 혁신적인 기술과 서비스로 글로벌 시장을 선도하며, 미국 증시의 상승을 이끌어왔습니다.

‘래그니피센트 7’으로의 전락 우려

최근 뱅크오브아메리카(BoA)의 최고투자전략가인 마이클 하트넷은 이들 기업이 더 이상 시장을 선도하지 못하고, 오히려 시장 수익률 대비 뒤처질 수 있다는 우려를 표명하며 ‘래그니피센트 7(Lagnificent 7)’이라는 신조어를 사용했습니다. ​

우려의 배경

  1. AI 투자 정점 도달: 하트넷 전략가는 인공지능(AI) 관련 지출이 정점에 도달하면서, 이들 기업의 성장 동력이 둔화될 위험이 있다고 분석했습니다. ​

  2. 높은 주가수익비율(PER): 현재 ‘매그니피센트 7’의 PER 프리미엄은 S&P 500 평균보다 40% 높아, 이는 투자자들에게 부담으로 작용할 수 있습니다. ​

  3. 자본 지출 증가: 이들 기업은 AI 분야에 막대한 자본을 투입하고 있으며, 이는 수익성에 부정적인 영향을 미칠 수 있습니다. ​

  4. 투자자들을 위한 조언

이러한 상황에서 전문가들은 투자자들에게 포트폴리오 다각화를 권장하고 있습니다. 특히, 저평가된 유럽 및 일본 은행주, 원자재, 하이일드 채권 등에 대한 관심을 높이는 것이 바람직하다고 조언합니다. 

결론

‘매그니피센트 7’의 미래에 대한 우려가 커지는 가운데, 투자자들은 시장의 변화를 주시하며 신중한 투자 전략을 수립해야 할 시점입니다. 글로벌 경제의 다변화와 기술 산업의 변화 속에서, 포트폴리오의 다각화와 새로운 투자 기회의 모색이 필요합니다.

Magnificent7, tunrs into Lagnificent7: When Magnificence Turns to Lag in Today’s Market

Lagnificent: When Magnificence Turns to Lag in Today’s Market
In the fast-paced world of finance and technology, where “Magnificent” once described stellar market performance, a new term is quietly gaining traction: Lagnificent. This playful yet telling twist on “magnificent” highlights a market reality where formerly top-performing stocks and sectors have entered a sluggish, underperforming phase. But what does being Lagnificent mean for investors, and how can one navigate this new market landscape?


1. What Does Lagnificent Mean?
Lagnificent is a blend of “lag” and “magnificent”, representing assets, companies, or sectors that were once leaders in growth and innovation but have since slowed down significantly. These investments are no longer driving markets forward but are instead dragging behind, underperforming expectations.
The term emerged as a response to the market performance of tech giants and other once-booming stocks that now seem stuck in a rut. For example, companies that led the “Magnificent Seven” era—like Apple, Microsoft, and Tesla—may find themselves becoming Lagnificent if they fail to maintain their growth momentum.


2. How Do Companies Become Lagnificent?
Several factors can turn a magnificent performer into a Lagnificent one:
Market Saturation: When a company dominates its market, growth opportunities diminish, leading to stagnation.
Innovation Plateau: Companies that stop innovating or struggle to adapt to market changes often lag.
Economic Conditions: High interest rates, inflation, and reduced consumer spending can weigh heavily on performance.
Increased Competition: Newer, nimbler competitors can disrupt established players, leading to a loss of market share.


3. Examples of Lagnificent Performance
A few examples of companies or sectors that could be considered Lagnificent include:
Tech Giants: After a decade of dominance, companies like Meta and Google have shown mixed results amidst regulatory pressures and market saturation.
Retailers: Brands like Walmart and Target faced slowing growth as consumer habits shifted and e-commerce competition heated up.
Automotive Industry: Even Tesla, a once unstoppable force, experienced phases of lag due to supply chain issues and increasing competition in the EV market.


4. Why Does Lagnificence Matter to Investors?
Recognizing Lagnificent stocks is crucial for investors seeking growth. Holding onto underperforming assets can weigh down a portfolio and reduce overall returns. Understanding the signs of potential Lagnificence can help investors pivot their strategies and explore more promising opportunities.


5. How to Avoid Lagnificent Investments
Investors can mitigate the risk of holding Lagnificent stocks by:
Diversifying Portfolios: Avoid overexposure to a single company or sector.
Monitoring Market Trends: Stay updated on industry developments and market sentiment.
Focusing on Fundamentals: Evaluate companies based on earnings, growth potential, and adaptability.
Setting Performance Benchmarks: Regularly assess whether investments are meeting expectations.


6. Opportunities Amidst Lagnificence
Interestingly, Lagnificent stocks can also present opportunities. For value investors, these underperforming stocks might be temporarily lagging due to external factors, presenting a potential for rebound. Additionally, if the underlying business model remains strong, market overreaction could create a buying opportunity at a discount.


7. Conclusion: Embracing Change and Staying Agile
In a dynamic market, even the most magnificent stocks can turn Lagnificent. Staying agile, continuously assessing investment strategies, and not being afraid to pivot are key to maintaining a healthy portfolio. Whether you are a growth investor or a value seeker, understanding the concept of Lagnificence will help you make informed decisions and capitalize on both thriving and lagging opportunities.