Magnificent 7 stocks are firmly back in favour. 

All 7 companies are materially higher than April's 'Liberation Day' dip. 

Last night, Nvidia Corp (NASDAQ: NVDA) became the first company in history to reach a market capitalisation of US$4 trillion, which is larger than the GDP of most countries. To reach this milestone, the chip maker reached an all-time high of $164.42. 

Nvidia now accounts for 7.5% of the S&P 500 Index (SP: .INX).

Nvidia shares have risen more than 1,000% since 2023, strongly rewarding shareholders who held their nerve through volatility this year. 

Just a few months ago, the stock fell nearly 20% after Chinese start-up DeepSeek arrived on the scene and threatened its dominance. Shortly after, Liberation Day sparked a broad sell-off across the US tech sector. 

Driving Nvidia's resurgence has been a commitment to artificial intelligence spending from Nvidia's largest customers. These customers happen to be other magnificent 7 stocks, including Microsoft (NASDAQ: MSFT), Meta Platforms (NASDAQ: META), and Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL). 

US earnings season kicks off next week. 

First up to report is the large US financial institutions, including JP Morgan Chase & Co (NYSE: JPM).

Later in the month, the Magnificent 7 companies will deliver their latest earnings results. As always, Nvidia will be the last Magnificent 7 company to report.

ASX investors with their eye on the Magnificent 7 companies may be looking to invest before company reporting is released. Any positive surprise in the Magnificent 7 company results could see share prices surge materially higher. 

How to invest?

Of course, Australian investors can buy shares in the individual Magnificent 7 companies. 

However, those not looking to pick a winner may prefer broad exposure through an exchange-traded fund (ETF). 

While there's no specific Magnificent 7 ETF, there's one option that comes close. 

The Global X Fang+ ETF (ASX: FANG) provides exposure to companies at the cutting edge of the next generation of technology, including both established companies and newcomers. 

With just 10 equally weighted holdings, it is reasonably concentrated. It contains all Magnificent 7 companies except Tesla Inc (NASDAQ: TSLA), allowing ASX investors to gain exposure to the majority of Magnificent 7 companies in a single trade. 

The FANG ETF has been one of the best-performing ETFs over the past five years, rising 152% over that period. 

Investors looking for an ASX ETF that contains all 7 Magnificent companies might prefer the Betashares Nasdaq 100 ETF (ASX: NDQ). However, this ETF is significantly more diversified, with 100 technology companies. 

Having risen 100% in 5 years, its performance lags the FANG ETF. 

It's worth noting that both the FANG ETF and the NDQ ETF have significantly outperformed the S&P/ASX 200 Index (ASX: XJO), which is up 44% in 5 years. While past performance does not guarantee future performance, both ETFs appear to be good additions to an ASX investor's portfolio. Heading into earnings season might be the perfect time to invest.