Bank of America flags unusual stock market 2026 setup, with MAG 7 dominance in danger

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For perspective, the Mag 7 skyrocketed over 600% since 2019, compared to nearly 113% for the S&P 500, as investors poured into big-name AI winners. Bank of America’s Savita Subramanian just threw cold water on the idea that the popular AI trade will continue defying gravity next year.