Momentum stocks like Palantir are off to a strong start in 2025 — even after DeepSeek disrupted the ‘Magnificent Seven’

Big Tech stocks like Apple Inc. AAPL, Tesla Inc. TSLA and Nvidia Corp. NVDA are off to a rocky start in 2025. But Wall Street’s momentum machine has kept on churning, even without their help.

After wrapping up what was, by some measures, their strongest year in nearly two decades, momentum stocks are off to the races once again in 2025 — even as Big Tech, formerly a stalwart of the momentum trade, has struggled. Through Monday’s close, the Roundhill Magnificent Seven ETF MAGS, which tracks shares of the seven companies known as the “Magnificent Seven” on an equal-weighted basis, has gained just 0.4% since the start of 2025.