The S&P 500 fell 9.7% last week. All MAG 7 stocks finished lower, but Microsoft (NASDAQ:MSFT), Google (NASDAQ:GOOGL), and Tesla (NASDAQ:TSLA) fell less than the market average. While Apple (NASDAQ:AAPL), Nvidia (NASDAQ:NVDA), Meta (NASDAQ:META) got hit the hardest.
Year to date all MAG 7 stocks are performing worse than the market average. Although Meta and Microsoft are hanging pretty close.
Where do we stand after such a sharp decline in prices?
All but Tesla are now trading below their 5-year average forward PE. The combined average is 32.8% below the 5 average.
Although only Google trades at a PE below the market average.
Looking at price to growth (PEG), 3 of the 7 are trading below their 5 year average PEG rates (Nvidia, Amazon (NASDAQ:AMZN), Google). While the combined average is -25% below their 5-year averages, but this skewed by Nvidia.
Nvidia and Google are trading at a PEG below the S&P 500 market average.
Bottom line: If growth at a reasonable price is important to you, then Nvidia, Google, and Amazon look to be best positioned here.