New Delhi, June 20 -- What's the point of the Magnificent Seven?

Investors are questioning whether the grouping of blue-chip mega-cap tech stocks still makes sense following SpaceX's stellar trading debut. Over the past five sessions, the stock has jumped 37% from its initial offer price of $135.

That has given SpaceX a market capitalization of $2.45 trillion-making it the U.S.'s sixth-most valuable company, worth more than electric-vehicle manufacturer Tesla and Facebook owner Meta Platforms as of Thursday's close.

Both stocks are part of the so-called Magnificent Seven, alongside chip designer Nvidia, Google parent Alphabet, iPhone maker Apple, IT company Microsoft, and online retailer Amazon.com.

But returns haven't been so magnifi...