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  "authorName": "Goldman Sachs",
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  "notes": "The slide uses four distinct charts to support the thesis that the Magnificent 7 are fairly valued based on consensus expectations.",
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      "text": "Magnificent 7 stocks are fairly valued if consensus estimates are realized.",
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      "kind": "chart",
      "text": "Exhibit 5: Consensus expects the 7 to grow sales at 4x the rate of S&P 493",
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      "kind": "chart",
      "text": "Exhibit 7: The Magnificent 7 trades at P/E of 30x vs. 18x for the S&P 493",
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      "text": "Exhibit 6: The Magnificent 7 are expected to expand margins by >2 pp by 2026",
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      "text": "Exhibit 8: Our valuation model shows the Magnificent 7 are fairly valued",
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      "text": "P/E ratio: 30x",
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      "text": "Source: Factset, Goldman Sachs Global Investment Research",
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      "text": "Charts we are watching: Magnificent 7 stocks are fairly valued if consensus estimates are realized",
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