The return of the "Magnificent Seven": The Investment Committee's strategy

Watch on YouTube ↗  |  September 04, 2026 at 17:32  |  7:51  |  CNBC
Speakers
Stephanie Link — Chief Investment Strategist, Hightower
Jim Lebenthal — Partner, Cetera Investment Management
Rob Sechan — Managing Partner, NewEdge Wealth
Bryn Talkington — Managing Partner, Requisite Capital Management
Scott Wapner — Host, CNBC

Summary

The Investment Committee debates the Magnificent Seven's renewed outperformance, attributing it to strong AI-driven earnings and guidance. Members are bullish on Nvidia, Microsoft, Meta, and selective Mag 7/AI leaders, while Rob Sechan highlights Microsoft's quality and valuation. Bryn Talkington also points to GE Vernova as an AI power demand beneficiary.

  • Mag 7 is outperforming the S&P 500 again after big tech earnings.
  • Nvidia is seen as the clearing event for AI capex and the Mag 7 turnaround.
  • Microsoft is called high-quality with a compressed P/E and strong earnings.
  • Meta's AI model pivot is cited as a driver after post-earnings weakness.
  • The committee sees selective AI/Mag 7 leaders as safe, profitable, and reasonably valued.
  • GE Vernova is highlighted as an AI power demand beneficiary.
  • CAT and GE Vernova are noted as more volatile than mega-cap tech.
  • Jim Lebenthal downplays September seasonality.
Ideas
Stephanie Link Chief Investment Strategist, Hightower 0:57
Mag 7 earnings justify renewed outperformance.
The Magnificent Seven's renewed outperformance is backed by fundamental earnings, not just momentum: AI capex is proving profitable, as shown by Amazon data-center payback under three years, Alphabet web services growing 80%, and Microsoft Azure growing 40%, while valuations are not hard to justify.
MAGS HIGH
Stephanie Link Chief Investment Strategist, Hightower 1:01
Nvidia clearing event signals continued AI.
Nvidia's earnings were the clearing event that restarted the Magnificent Seven rally; the initial muted reaction was just delayed, and it signals AI capex is continuing and profitable.
NVDA HIGH
Rob Sechan Managing Partner, NewEdge Wealth 4:10
Microsoft quality and valuation support upside.
Microsoft is one of the highest-quality broad-based tech names in the world; its P/E has compressed after a flat year, its latest earnings showed strength, and its index weight makes it a significant contributor to the Mag 7 resurgence.
MSFT HIGH
Bryn Talkington Managing Partner, Requisite Capital Management 6:07
Meta AI model pivot supports stock.
Meta's post-quarter weakness was driven by fears it would go to the cloud business, but management instead said it is entering the AI model business; Zuckerberg has shown he can navigate AI challenges, making Meta a selective AI winner with revenue and ROI.
META MED
Bryn Talkington Managing Partner, Requisite Capital Management 7:47
GE Vernova leads AI power comeback.
GE Vernova is the AI power name she owns as the poster child of the divergence between data-center backlash and AI power demand; it is making a comeback and is a direct way to play AI electricity needs.
GEV LOW
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This CNBC video, published September 04, 2026, features Stephanie Link, Rob Sechan, Bryn Talkington discussing MAGS, NVDA, MSFT, META, GEV. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Stephanie Link, Rob Sechan, Bryn Talkington  · Tickers: MAGS, NVDA, MSFT, META, GEV