Jurrien Timmer says the Mag 7 may be nearing an inflection point: the group’s payout ratio has fallen to 37% while its index has moved sideways since October 20

Jurrien Timmer says the Mag 7 may be nearing an inflection point: the group’s payout ratio has fallen to 37% while its index has moved sideways since October 2025. Relative price trends are weakening, raising questions over whether mega-cap tech leadership is fading.