SpaceX and Tesla shed $1.2 trillion in July as Apple keeps the megacaps afloat: Chart of the Day

SpaceX and Tesla shed $1. 2 trillion in July as Apple keeps the megacaps afloat: Chart of the Day Jared Blikre Mon, July 27, 2026 at 7:27 PM GMT+2 2 min read TSLA SPCX AAPL GOOG MSFT Elon Musk's Tesla ( TSLA ) and SpaceX ( SPCX ) are having a brutal July. Apple ( AAPL ) is quietly having its best month in four years.

SpaceX, which already got cut in half recently, has lost nearly $800 billion in market value since the start of the month. Tesla has given back more than $400 billion. Alphabet ( GOOGL ) is shedding more than $300 billion of its own.

Those three account for almost all of the roughly $1. 5 trillion in damage across the market's 10 trillion-dollar companies, a group that is losing close to $600 billion on net for the month. July market cap changes for the top 10 US stocks by market cap.

Data as of July 27, 2026 midday. · Yahoo Finance analysis of AlphaSpace data The rest of the club is holding up. Six of the 10 rose.

Microsoft ( MSFT ) added nearly $150 billion and Meta ( META ) more than $100 billion. Leave out Musk's two stocks and the other eight are higher for July, by more than $600 billion. Apple is doing most of the lifting.

Its roughly $700 billion gain is bigger than the entire club's net loss, and the run carried the stock back to a record. Apple is nearing a $5-trillion market valuation and has already taken back the title of world's most valuable company from Nvidia ( NVDA ) — which sits about 15% below the high it set in May. Look past the biggest names and the market is steadier than the headline suggests.

The equal-weight S&P 500 is up 1% in July while the standard, cap-weighted S&P 500 is down 1%. That means the typical stock is doing fine, even as some of the giants are weighing down the main index. The money leaving the top hasn't left the market.

Since the S&P 500's July 15 interim high, energy, financials and the defensive corners have led, and the only sectors in the red are the three where the megacaps live — technology, communication services and consumer discretionary. The cash is rotating out of the leaders and into nearly everything else. The exception is chips.

The Philadelphia Semiconductor Index ( ^SOX ) is down nearly 20% this month and is back testing its July 17 low near 11,300. PHLX Semiconductor Index (^SOX) · Yahoo Finance AlphaSpace Even there, the two chipmakers inside the trillion-dollar club, Nvidia and Broadcom ( AVGO ), are getting off easy. The selling has hit memory and equipment makers instead, with several of them — like Micron ( MU ) and Intel ( INTC ) — cut by a quarter to nearly half.

The stocks that have helped carry the market to records recently are on the back foot, while the rest of it grinds higher. If the average stock keeps holding and the chip selling stays walled off in semiconductors, the damage continues to look contained. If the weakness spreads, the leaders' stumble becomes everyone's problem.

Jared Blikre is the global markets and data editor for Yahoo Finance. Follow him on X at @SPYJared or email him at jaredblikre@yahooinc. com .