Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the early part of the second quarter of 2024 showed a big divergence of returns. The Magnificent Seven stocks are among the best stocks to watch on the stock market today.
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Due to their outsized market capitalizations, Magnificent Seven stocks hold a disproportionate influence on the market-cap weighted Nasdaq composite and S&P 500 indexes.
For an in-depth look at this issue, check out IBD's page on the Magnificent Seven weightings, market capitalizations and the companies' latest news stories.
Magnificent Seven Stocks Performance
| Company Name | Symbol | 2024 YTD Performance |
|---|
| Alphabet | (GOOGL) | +20.7% |
| Amazon | (AMZN) | +23.4% |
| Apple | (AAPL) | -4.9% |
| Meta Platforms | (META) | +34.5% |
| Microsoft | (MSFT) | +10.3% |
| Nvidia | (NVDA) | +81.5% |
| Tesla | (TSLA) | -32.2% |
Source: IBD Data As Of May 10, 2024
Magnificent Seven Stocks: Amazon Pulls Back
Amazon.com (AMZN) remains sharply out of buy range above a cup base's 145.86 buy point. Amazon rose 0.6% Friday, just off new highs and pulling back to its 50-day line.
In recent weeks, the e-commerce giant reported first-quarter earnings and sales that exceeded expectations, helped by strong growth for its cloud-computing and advertising businesses.
Through itsAmazon Bedrockplatform, the e-commerce and cloud giant provides a fully managed service offering a choice of high-performing foundation models (FMs) from leading AI companies likeAI21 Labs,Anthropic,Cohere,MetaandStability AI.
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Alphabet Surges On Earnings
Google parent Alphabet (GOOGL) surged to new highs in recent weeks, sharply above a 153.78 entry. Shares rose 0.8% Friday.
On April 26, Alphabet reported first-quarter earnings and revenue that handily beat analyst estimates. The company announced its first-ever dividend.
Alphabet surged on March 18 after Bloomberg reported that Apple is in talks with the Google parent over licensing its "Gemini" artificial intelligence training model for use in iPhones.
Nvidia Stock Leads Magnificent Seven
Among the Magnificent Seven stocks, Nvidia (NVDA) is the top performer in 2024, with a scorching 81% year-to-date return through May 10.
Nvidia, an IBD Leaderboard stock, slid 1.8% Friday, holding just above its latest buy point at 922.20.
On Feb. 21, Nvidia beat Wall Street's targets for its fiscal fourth quarter and guided higher than views for the current period.
Nvidia's Q4 report marked its third straight quarter of triple-digit percentage growth in sales and earnings. And its sales growth has accelerated for the past three quarters.
"Accelerated computing and generative AI have hit the tipping point," Chief Executive Jensen Huang said in anews release. "Demand is surging worldwide across companies, industries and nations."
Be sure to read how to adjust to changing market conditions, with IBD's new exposure levels.
Tesla Stock Surges On FSD News
Tesla (TSLA) moved up 1% Friday. In recent weeks, Tesla surged on news reports that Beijing has given preliminary approval for the electric-vehicle giant to launch its Full Self-Driving in China.
On April 23, Tesla announced worse-than-expected earnings and revenue for the first quarter, with the electric-vehicle giant reporting its lowest quarterly per-share earnings since 2021. But Tesla stock soared as it signaled "more affordable" new models are still coming.
Dow Jones Stocks In Magnificent 7: Apple, Microsoft
Two Dow Jones names among the Magnificent Seven stocks, Apple (AAPL)and Microsoft (MSFT), traded higher on the stock market today.
Apple stock fell 0.1% Friday. Shares are back above their 50- and 200-day lines.
In recent weeks, Apple narrowly beat Wall Street's estimates for its fiscal second quarter. The iPhone maker also raised its quarterly dividend and stock buyback plan.
In late April, Microsoft beat estimates for its fiscal third quarter, thanks to healthy cloud computing business. Shares moved down 0.4% in Friday's trading, as they build a flat base with a 430.82 buy point.
Microsoft stock is just above its 50-day line, a key area to watch.
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Meta Stock Falls Below Key Level
Shares of Meta Platforms (META) dived below their 50-day line in recent weeks after the company's earnings results. Meta stock dropped 0.6% Friday.
On April 24, Meta beat analyst expectations for both sales and earnings, but company executives gave a lighter-than-expected sales forecast for the current quarter.
META stock boasts a strong 97 out of a perfect 99 IBD Composite Rating, per the IBD Stock Checkup.
In recent months, Chief Executive Mark Zuckerberg said that Threads is now available to users in the European Union. The Facebook parent company launched Threads as a separate app in July. It is a competitor to the Elon Musk-owned X, formerly Twitter. The European rollout wasreportedly delayedby regulatory uncertainty in the EU over the use of personal data on the app.
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FAQs
They include Amazon (NASDAQ: AMZN), Apple, Alphabet, Microsoft, Meta Platforms, Nvidia, and Tesla, and each one offers interesting growth prospects. The once-in-a-generation buying opportunity, though, is Amazon, a leader in the two high-growth fields of e-commerce and cloud computing -- and a potential AI powerhouse.
What are the magnificent seven stocks to buy? ›
They include Amazon (NASDAQ: AMZN), Apple, Alphabet, Microsoft, Meta Platforms, Nvidia, and Tesla, and each one offers interesting growth prospects. The once-in-a-generation buying opportunity, though, is Amazon, a leader in the two high-growth fields of e-commerce and cloud computing -- and a potential AI powerhouse.
What are the 7 main stocks? ›
The “Magnificent Seven” might sound like the title of an old Western film or what a large family might name its group chat, but in finance the moniker is being used to describe a group of high-performing tech stocks: Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta and Tesla.
Which magnificent 7 to buy now? ›
Amazon
- Alphabet: $195 per share (15% upside)
- Amazon: $220 per share (18% upside)
- Apple: $200 per share (10% upside)
- Meta Platforms: $525 per share (11% upside)
- Microsoft: $475 per share (15% upside)
- Nvidia: $1,000 per share (11% upside)
- Tesla: $179.10 per share (3% upside)
7 Dividend Stocks to Buy and Hold Forever
| Stock | Forward Yield* |
|---|
| JPMorgan Chase & Co. (ticker: JPM) | 2.4% |
| Procter & Gamble Co. (PG) | 2.4% |
| Johnson & Johnson (JNJ) | 3.3% |
| Home Depot Inc. (HD) | 2.6% |
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| Company (ticker) | Analysts' consensus recommendation score | Analysts' consensus recommendation |
|---|
| Amazon.com (AMZN) | 1.29 | Strong Buy |
| Nvidia (NVDA) | 1.33 | Strong Buy |
| Microsoft (MSFT) | 1.33 | Strong Buy |
| Bio-Techne (TECH) | 1.39 | Strong Buy |
21 more rowsDubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the early part of the second quarter of 2024 showed a big divergence of returns.
Which magnificent 7 stocks pay dividends? ›
Dividends make Apple, Microsoft, and Nvidia even sweeter
Microsoft has the best dividend yield: $0.75 per share each quarter, which translates to an annual yield of 0.74%. Holding Apple stock will yield 0.49% annually, whereas Nvidia stock yields 0.03%.
Which penny stocks to buy now? ›
Penny Stocks To Buy Today
| Company Name | LTP | % Change |
|---|
| DIL | 8.05 | 0.63 |
| Kanani Industries | 3.7 | 4.23 |
| Dynamic Cables Ltd | 575 | 3.07 |
| Hilton Metal Forging | 126 | 4.00 |
1 more rowThe best cheap stocks to buy
| Company | Ticker symbol |
|---|
| Amcor | AMCR |
| Arcadium Lithium | ALTM |
| Kosmos Energy | KOS |
| Valley National Bancorp | VLY |
1 more rowMay 6, 2024
The Roundhill Magnificent Seven ETF offers equal weight exposure to the “Magnificent Seven” stocks – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.
Are any of the original Magnificent Seven still alive? ›
How many of the seven are still alive and what are their names? All of the main actors are gone. Yul Brynner, James Coburn, Charles Bronson, Horst Buchholz, Steve McQueen, Brad Dexter and Robert Vaughn were The Magnificent Seven, and Robert Vaughn was the last to go (he died in 2016). No.
How many survived in magnificent 7? ›
Among the seven, only Chris, Vin, and Chico survive the fierce battle. The Magnificent Seven, directed by John Sturges, was a critical and commercial success. Elmer Bernstein's score is among cinema's most memorable and won an Academy Award. The Magnificent Seven inspired several follow-up films.
What stock will boom in 2024? ›
12 Best Growth Stocks to Buy and Hold in 2024
- Adobe Inc. (NASDAQ:ADBE) ...
- Advanced Micro Devices, Inc. (NASDAQ:AMD) ...
- Uber Technologies, Inc. (NYSE:UBER) ...
- Salesforce, Inc. (NYSE:CRM) ...
- Apple Inc. (NASDAQ:AAPL) ...
- Mastercard Incorporated (NYSE:MA) Number of Q4 2023 Hedge Fund Shareholders: 141. ...
- Visa Inc. (NYSE:V)
- AbbVie Inc. (ticker: ABBV)
- Adobe Inc. (ADBE)
- Apple Inc. (AAPL)
- Booking Holdings Inc. (BKNG)
- Costco Wholesale Corp. (COST)
- DraftKings Inc. (DKNG)
- Enphase Energy Inc. (ENPH)
- Nvidia Corp. (NVDA)
The Best Performing Stocks in History
- Coca-Cola. (NASDAQ: KO) ...
- Altria. (NASDAQ: MO) ...
- Amazon.com. (NASDAQ: AMZN) ...
- Celgene. (NASDAQ: CELG) ...
- Apple. (NASDAQ: AAPL) ...
- Alphabet. (NASDAQ:GOOG) ...
- Gilead Sciences. (NASDAQ: GILD) ...
- Microsoft. (NASDAQ: MSFT)
Cramer also said that Modine Manufacturing Co (NYSE:MOD) is a "Club-like" name, saying his investing club propends investing in stocks similar to Modine Manufacturing Co (NYSE:MOD). In addition to MOD, Cramer also likes NVIDIA Corp (NASDAQ:NVDA), Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc Class C (NASDAQ:GOOG).
What stocks is Warren Buffett buying? ›
The Berkshire Hathaway portfolio
| Company | Shares held | Percent of portfolio |
|---|
| Kraft Heinz (KHC) | 325,634,818 | 3.62% |
| Moody's (MCO) | 24,669,778 | 2.92% |
| Chubb (CB) | 25,923,840 | 2.03% |
| DaVita (DVA) | 36,095,570 | 1.50% |
37 more rowsAMD still has a way to go until it returns to anywhere near its last peak level of profitability in 2022. But if it gets back on a positive trajectory, shares could still be a reasonable deal at 46 times https://www.fool.com/terms/f/forward-pe/, though maybe not a particularly amazing value.
