Magnificent 7 Stock Report: Apple Leads, NVIDIA Fades, Microsoft Crashes

We’re into March, and volatility has returned to markets. Geopolitics aren’t helping. The Dow Jones Industrial Average is down 2.24% today on fears the Iran War could lead to a prolonged increase in oil prices.

What stocks in the Magnificent 7 could provide shelter if the market keep selling off? Let’s look at which stocks performed the best across February. The short story is that Apple (Nasdaq: AAPL) was the one Magnificent 7 stock that didn’t see their share price plummet. It was a tough month across the group, with Amazon (Nasdaq: AMZN) shares sinking more than 10%.

Let’s review how each stock has performed through February and look ahead to what storylines could move Magnificent 7 stocks in March.

February 2026 Scoreboard

Let’s dive into some of the biggest storylines across the month.

NVIDIA: Blockbuster Earnings, Stubborn Stock

NVIDIA reported its Q4 FY26 results on February 25, 2026, and the numbers were genuinely extraordinary. Revenue came in at $68.13 billion, up 73.2% year over year, clearing the consensus estimate by 2.93%. Adjusted EPS of $1.62 topped the $1.52 estimate. The Data Center segment, the engine of the whole story, posted $62.31 billion in quarterly revenue, up 75% year over year. Networking revenue alone surged 263% year over year to $10.98 billion, driven by the NVLink compute fabric ramp.

CEO Jensen Huang framed it in sweeping terms on the earnings call:

“Computing demand is growing exponentially. The agentic AI inflection point has arrived. Grace Blackwell with NVLink is the king of inference today, delivering an order-of-magnitude lower cost per token, and Vera Rubin will extend that leadership even further.”

Jensen Huang, NVIDIA CEO

And then there was the guidance (which, incredibly, was the most impressive part!). NVIDIA guided to $78 billion in revenue next quarter. Despite NVIDIA’s size, the company continues to accelerate. Wall Street expected $7.76 in earnings in Fiscal 2027 before the earnings report.

Consensus earnings now call for $8.25 in adjusted earnings.

And yet the stock fell roughly 3% after the print. Reddit captured the retail confusion perfectly. The most-discussed post in the days following earnings asked simply: “How is NVDA down almost 3% after the blockbuster print?” It accumulated nearly 1,000 upvotes and over 700 comments.

The answer continues to be that Wall Street worries the AI data center buildout is so furious today, it will lead to disappointing sales in the coming years. Still, NVIDIA now trades for 22X forward earnings. It’s trading for market multiples despite the torrid growth it just reported.

I’m a believe in NVIDIA at today’s prices and recently said it’s the top stock to buy for investors investing with as little as $1,000. NVIDIA is hosting its GTC event beginning March 16th. Watch for news from that event to be a catalyst headed into spring.

Microsoft: The Worst Performer Nobody Expected

Microsoft is down 16.77% year to date through February. Thankfully, today is providing some relief. Shares are up 1.2% today while the DOW has dropped 900 points. Investors are rotating back into software and selling industries like Consumer Staples.

The selloff traces back to late January earnings, when Microsoft actually beat on every major metric. Microsoft reported EPS of $4.14 against a $3.85 estimate and revenue of $81.27 billion against an $80.28 billion consensus. Azure grew 39% year over year. The cloud business crossed $50 billion in a single quarter for the first time.

So why did the stock fall? Wall Street was worried Azure forecasts aren’t good enough, especially with how much Microsoft is spending on capital expenditures. It also doesn’t help that software stocks have been selling off and Microsoft still collects a massive amount of revenue from its various software suites.

Reddit’s most-discussed MSFT thread of February asked: “Why are people so bearish on MSFT?” The answer is not that the business is broken. It is that investors are questioning how long it takes $30 billion quarters of infrastructure spending to translate into durable margin expansion and whether Microsoft’s software will face margin pressures from the very companies its cloud business is renting capacity to.

Apple: The Lone Bright Spot

Apple finished February 2026 as the only Magnificent 7 member in positive territory for the month, gaining 1.91%. The fundamental backdrop earned it. Apple reported its Q1 FY26 results in late January with revenue of $143.76 billion, up 15.7% year over year, a record quarter. iPhone revenue hit $85.27 billion. Services revenue reached $30.01 billion. Greater China surprised to the upside at $25.53 billion, up 38% year over year.

Apple’s relative outperformance in February reflects something important: the market rewarded a company spending conservatively on AI while generating extraordinary free cash flow. While peers announced $115 billion to $200 billion capex plans for 2026, Apple returned $24.7 billion to shareholders via buybacks in a single quarter. That capital discipline looked attractive in a month when the market punished big spenders.

Apple enters March with fresh momentum. The company unveiled seven new products this week, a significant product refresh that could sustain the consumer narrative heading into spring.

What to Watch in March

The single most important event for the Magnificent 7 in March is NVIDIA’s GTC Conference, where Jensen Huang is expected to detail the next chapter of the agentic AI and physical AI roadmap. Prediction markets assign 96.2% probability that Huang will use the word “agentic” in his keynote, and 96% probability he mentions Vera Rubin. The market will be watching for any color on Rubin deployment timelines and new products like switches with co-packaged optics.

For Apple, the product launches this week are the near-term catalyst.

For Microsoft, the biggest question is simply how the market will treat software stocks. If market activity today is any indication, March could be a bounceback month for the company.