The magnificent seven stocks dominated the headlines in the last year. The seven are Alphabet (GOOG, GOOGL), Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), Nvidia (NVDA) and Tesla (TSLA).
Which stock(s) may continue rising in 2024 to become majestic?
Alphabet cracked down on AdBlock tools against users on YouTube. This increases profit margins for advertising. Search traffic is healthy on Google. Markets dismissed Microsoft’s ChatGPT risk. Expect GOOG stock to attract buyers this year.
Amazon slashed staff and cut warehouse space. It raised Amazon Prime prices. In addition, users must pay a small fee to remove ads on Prime streaming services. AMZN stock has and will always trade at premium valuations.
Apple successfully resumed the sale of its Watch. It will continue to fight the patent infringement ruling raised by Masimo (MASI). Customers are more than willing to upgrade their iPhones. AAPL stock shows no signs of losing its upward momentum.
Meta Platforms had a simple strategy of not mentioning its expensive metaverse. Markets bought META stock as the firm increased its buyback.
Microsoft is a cash cow with its Office 365 product.
Nvidia benefits from the U.S. restricting exports to China. It released the “D” version of the 4090 GPU recently.
Tesla is the leading EV giant. As it slashes prices, demand increases.
None of the M7 stocks indicate any weakness at this time. Markets may dub them the Majestic 7 of 2024.
