This Stock Posted the Best Performance in the “Magnificent Seven” in September. (Hint: It’s Not Nvidia.)

META surged 26% in September, the best performance among the Magnificent Seven and ahead of NVDA, which many traders would have expected to lead. The catalyst: the launch of Meta's Muse AI agent, which pulled 730,000 downloads in five days and briefly reached the No. 1 free iOS app in the U.S., displacing ChatGPT.

The move pushed META's valuation to 23x forward earnings. Analysts cited in the report still view the shares as a reasonable buy, pointing to two supports: Meta's established advertising business and progress in AI monetization.

Interpretation: the Muse download figure is an early adoption signal, not a revenue number. The 26% gain suggests the market is already pricing in a meaningful portion of that AI monetization story. At 23x forward earnings, META carries a richer multiple than before the rally, so the stock now depends on the advertising business continuing to anchor earnings while AI contributes incremental upside.

Relative performance also matters. META leading the group over NVDA, AAPL, and AMZN in September shows leadership rotating within mega-cap tech rather than a uniform AI-chip trade.