The valuations of the Magnificent Seven (M7) have drawn significant attention, with the companies’ share prices surging since late 2022. Critics contend that these valuations are unjustified, drawing parallels to the exuberance of the Dotcom era.
In the attached note, Andrew offers a more balanced perspective by evaluating the fundamentals of the M7 companies and examining the market's growth expectations for the coming years. While some expectations may seem ambitious, Andrew argues that they may not be entirely unattainable.