Magnificent Seven companies: analysis of revenue trends during COVID pandemic

This research focuses on analysing revenue trends of the Magnificent Seven (M7) companies during the COVID pandemic (2020-2023). Using time series ensemble models, we forecasted quarterly revenues and applied counterfactual analysis to evaluate revenue trends during the pandemic. We determined that the majority of the M7 companies were able to sustain and increase their revenues versus estimated ensemble forecasts during the pandemic years of 2020-2023. We also concluded that for a short-term period, e.g., within the first pandemic year of 2020, some of the M7 companies had experienced revenue losses that were potentially associated with the adverse effects of the pandemic. However, for the subsequent COVID years of 2021-2023, revenue trends for all M7 companies were not adversely affected by the pandemic. This research also provided specific directions on how to develop a new or improve existing methodology for analysing revenues of any organisation during the pandemic.