A sliding share price. A recent warning of slower deliveries. Now some on Wall Street believe Tesla no longer deserves to be among the coveted ” Magnificent 7 ,” and are suggesting alternatives that could replace Elon Musk’s company. “The Magnificent 7 now looks more like the Magnificent 6 as Tesla falls from the crowd,” billionaire investor Leon Cooperman , CEO of the Omega Family Office, said on CNBC’s ” Squawk Box ” Tuesday. Tesla has certainly had a tough start in 2024. The electric vehicle stock has tumbled 26% in five weeks. Its latest earnings report missed expectations and included a warning of stagnant vehicle volume growth . In reaction, several analysts slashed their investment ratings and lowered their price targets on the stock. Tesla’s sharp decline also significantly lowered its weighting in the S & P 500, falling to the No. 10 spot. (The equity benchmark is ranked by market capitalization.) Meanwhile, there are now 29 companies that contributed more to S & P 500 earnings than Tesla, according to Strategas Securities. The research firm identified three companies with both market cap weighting and earnings contributions (for the next 12 months) larger than Tesla — Berkshire Hathaway , Broadcom and Eli Lilly . “Berkshire spent last year fliting with the top seven, but Broadcom and Lilly have steadily gained share,” Strategas said in a note. “The net income contribution for [Broadcom] is just a 0.1% difference from its market cap weight which may mean there could be greater multiple expansion.” Warren Buffett’s Berkshire has historically outperformed the broader market when volatility is high. The conglomerate’s Class B shares have gained more than 10% year to date. Eli Lilly’s quarterly results blew past expectations on Tuesday, benefiting from the strong launch of its new weight loss drug, Zepbound, and higher prices for its blockbuster diabetes treatment, Mounjaro. The stock has soared nearly 20% this year. Broadcom shares doubled last year, helped by enthusiasm surrounding artificial intelligence. JPMorgan on Tuesday resumed coverage with an overweight rating, calling Broadcom “a technology infrastructure powerhouse with semiconductor leadership positions in AI.” The Wall Street firm noted that Broadcom is the No.2 global AI semiconductor supplier with more than $8 billion in estimated revenues for 2024. The stock has gained nearly 10% this year. — CNBC’s Michael Bloom contributed reporting.