New Delhi, Nov. 26 -- In the September 2025 earnings season, Mega-cap companies significantly influenced the overall S&P 500 upgrades, according to a report from Yes Securities. While these Mega Caps continue to drive earnings growth, the pace of their expansion is starting to stabilize.

The "Magnificent 7" - which includes Alphabet (Google), Amazon, Apple, Meta (Facebook), Microsoft, Nvidia, and Tesla - experienced a 1.0% upgrade, in contrast to the 0.4% increase seen for the broader index, and slight downgrades for the S&P 500 excluding Mega Caps.

Hitesh Jain, the lead analyst, Yes Securities pointed out that this situation underscores the ongoing concentration of earnings strength within the largest technology firms in the U.S.

Acco...