According to a research note by Deutsche Bank, which CNBC cited on Monday, the market capitalizations of the seven biggest tech companies in America are higher than those of businesses in almost every other major economy in the globe.

The so-called Magnificent 7 – Apple, Meta, Amazon, Alphabet, Tesla, Microsoft, and Nvidia – have a combined market value and record-breaking profits that surpass those of publicly traded companies in almost every other G20 nation, according to the bank’s analysts. According to the researchers, the only countries with higher profits from their listed firms are China and Japan.

Furthermore, the firms would rank as the second-largest country stock exchange in the world based only on their total market capitalization. For example, the combined market capitalizations of listed companies in France, Saudi Arabia, and the UK are almost equivalent to those of Microsoft and Apple.

The valuations of thirty-six companies that have ranked in the top five of the S&P 500 since the 1960s served as the basis for the experts’ analysis.

While not all of the top earners fared equally well in the stock market recently—Tesla’s share price has decreased by about 20% since the beginning of 2024, while Nvidia’s has increased by almost 47%—Jim Reid, head of global economics and thematic research at Deutsche Bank, refers to Nvidia as “the core of the group have been the largest and most successful companies in the US and with it the world for many years now.”

The Magnificent 7 accounted for a large portion of the S&P 500’s returns last year, while many other index stocks had challenges. Bank did issue a warning, stating that investors run the danger of losing out on other lucrative possibilities if they keep buying tech companies.