History of Market Find a chart
Gathering VII · leaf 6 of 7
M7 · Historical Lineage

M7 · Historical Lineage — Market Leadership Lineage: From the Nifty Fifty to the Magnificent 7

Historical Market Cap Dynasties — From Standard Oil, General Motors, and IBM to modern tech titans: a century of succession among market cap leaders.

The plate

Nifty Fifty
1971-1973
Peak
1972
Members
IBM · Xerox · Kodak · Polaroid · Avon · Coca-Cola · GE · P&G · McDonald's · Disney · Johnson & Johnson · Merck
PeakWall Street's 'one-decision' must-own basket of 1972. Average PE crossed 41× while the broader market sat near 20×.
DrawdownThrough the 1973-74 bear: average drawdown -60% to -70%. Polaroid -91%, Avon -86%.
FateRoughly a third underperformed the S&P over the following twenty years — Kodak, Xerox, Polaroid, Sears among them.
Four Horsemen of the Internet
1999-2000
Peak
2000
Members
Microsoft · Cisco · Intel · Oracle Corporation
PeakThe 'four horsemen' at the dotcom peak — combined market cap roughly 7% of the S&P 500.
DrawdownThrough the 2000-02 bust: CSCO -89%, INTC -82%, MSFT -65%, SUN Microsystems -97%.
FateMSFT and ORCL needed roughly 17 years to climb out of this hole; CSCO and INTC took more than two decades to retake their 2000 highs; SUN Microsystems never recovered at all — Oracle bought it for $7.4B in 2010 and the ticker disappeared.
TodayMSFT +772%(retook 2016-10)CSCO +27%(retook 2025-12)INTC -18%(still below)ORCL +174%(retook 2017-06)
FANG
2013-2017
Peak
2017
Members
Facebook · Amazon.com · Netflix · Alphabet (Google)
PeakCoined by Jim Cramer in 2013. FB / AMZN / NFLX / GOOG combined for ~6-7% of the S&P 500.
DrawdownThrough the Q4 2018 correction: FB -40%, NFLX -45%, both quickly recovered.
FateThree of four survived the second test (2022 bear) and led on the upside again; NFLX -75% in 2022 before reasserting.
FAANG
2017-2021
Peak
2021· 22.0% SPX share
Members
Facebook · Apple Inc. · Amazon.com · Netflix · Alphabet (Google)
PeakFANG + AAPL. Peaked at roughly 22% of the S&P 500 in 2021.
DrawdownThrough the 2022 bear: AAPL -32%, AMZN -56%, NFLX -75%, META -76%, GOOG -45%.
FateNFLX was effectively dropped in 2022. What remained is essentially today's M7 minus NVDA and MSFT.
Magnificent 7
2023-now
Peak
2024· 33.5% SPX share
Members
Apple Inc. · Microsoft · NVIDIA · Alphabet (Google) · Amazon.com · Meta Platforms · Tesla
PeakCoined by BofA strategist Michael Hartnett in 2023. NFLX dropped from FAANG; NVDA, META, MSFT, TSLA added.
DrawdownStill active; has not yet been tested by a true bear market. The deepest cluster drawdown was in 2022 (~-45% average), but the basket as named didn't yet exist.
FateBeing written. Concentration is unprecedented — but so is the earnings base (~23% of S&P 500 operating profit).
Plate VII.6 Tracing the succession of dominant market cohorts: Nifty Fifty (1972) → Four Horsemen (1999) → FANG (2013) → FAANG (2017) → Magnificent 7 (2023). Every generation enjoyed secular dominance before confronting at least one -40% re-rating.

Latest Snapshot

Data file updated
2026-11-13

Tracing the succession of dominant market cohorts: Nifty Fifty (1972) → Four Horsemen (1999) → FANG (2013) → FAANG (2017) → Magnificent 7 (2023). Every generation enjoyed secular dominance before confronting at least one -40% re-rating.

What this page answers

This static page is built to answer searches for M7 · Historical Lineage. It summarizes the live dataset behind the Market Leadership Lineage: From the Nifty Fifty to the Magnificent 7 panel and links to the full interactive chart.

Tracing the succession of dominant market cohorts: Nifty Fifty (1972) → Four Horsemen (1999) → FANG (2013) → FAANG (2017) → Magnificent 7 (2023). Every generation enjoyed secular dominance before confronting at least one -40% re-rating. The data is refreshed by the History of Market pipeline and published as a stable JSON endpoint for research, citation, and AI-agent use.

View the interactive chart Download raw JSON

Data & Source

GET /api/mag7/predecessors.json — Canonical dataset endpoint.

Exchange closing prices · Company filings · Robert Shiller · FRED · NBER.

FAQ

Where does this data come from?

History of Market combines public market and macro datasets — exchange closing prices, company filings, Robert Shiller, FRED, NBER, and the UBS Global Investment Returns Yearbook (Dimson–Marsh–Staunton). The exact endpoint for this panel is linked below.

How often is it updated?

Daily-tier datasets refresh after the U.S. market close, with a broader weekly refresh each weekend. The timestamp shown on this page comes from the JSON payload.

Can I use the data?

Yes, for research and education with attribution to History of Market. Upstream data sources retain their own terms.

Related charts and reading