The Magnificent 7 tech magacaps fueled the AI-powered bull market, but lately Warren Buffett’s old-economy conglomerate Berkshire Hathaway is coming out on top. The CNBC Magnificent 7 Index, consisting of Apple , Alphabet , Nvidia , Microsoft , Tesla , Meta and Amazon , is up 43.4% since the beginning of 2024. Berkshire has handily beaten the tech group by three percentage points, climbing 46.3% gain during the same period. “Believe it or not, you would have been better off buying BRK/B than the Mag 7 to start ’24,” Chris Verrone, Strategas head of technical and macro research, said in a note to clients, referring to Berkshire’s Class B stock. That’s largely due to Mag 7’s dramatic pullback in the new year, falling 13%. Technology stocks have come under pressure as economic uncertainty surged in the first two months of the Trump administration, driven by the impact of higher tariffs…
