What are the magnificent 7 stocks?
The Magnificent 7 stocks — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla — account for roughly 29% of the S&P 500 these days, according to data from Goldman Sachs. Such a top-heavy market creates unique occurrences.
Here are the current individual market cap weightings of Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia and Tesla.
The Magnificent Seven comprises Nvidia NVDA, Tesla TSLA, Meta Platforms META, Apple AAPL, Amazon.com AMZN, Microsoft MSFT, and Alphabet GOOGL/GOOG. Together these stocks account for roughly one-quarter of the Morningstar US Market Index.
Since the index hit its latest low in October 2022, seven stocks — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — have collectively risen nearly 117 percent, far outpacing the performance of the other 493 companies in the S&P 500. Together, these stocks have become known as the “Magnificent Seven.”
India's stock market surpassed Hong Kong to become the world's seventh-largest, underscoring the optimism surrounding the economic potential of the world's most populous nation, as per a CNBC report.
Symbol | Name | Price (Intraday) |
---|---|---|
CBAY | CymaBay Therapeutics, Inc. | 32.21 |
BEAM | Beam Therapeutics Inc. | 33.40 |
CLSK | CleanSpark, Inc. | 16.00 |
MARA | Marathon Digital Holdings, Inc. | 27.28 |
The Magnificent Seven group includes Apple (AAPL), Amazon.com (AMZN), Alphabet (GOOGL), Meta Platforms (META), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA). That group as a whole doubled in value last year, outperforming the +54% surge of the Nasdaq 100 Stock Index ($IUXX) (QQQ).
Robertson Velez, portfolio manager with Toronto-based CIBC Asset Management Inc., says he's generally bullish on most magnificent seven stocks in 2024, but not to the same degree as earlier this year. “The earnings will be fine, but a lot of that is baked in [the prices],” says Mr.
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Company | Dividend Yield |
---|---|
Big 5 Sporting Goods Corp (BGFV) | 17.21% |
Arbor Realty Trust Inc. (ABR) | 14.07% |
Dynex Capital, Inc. (DX) | 13.20% |
Chicago Atlantic Real Estate Finance Inc (REFI) | 13.19% |
What are the best dividend paying stocks to buy now?
Stock (ticker) | Dividend Yield |
---|---|
Automatic Data Processing, Inc. (ADP) | 2.2% |
Microchip Technology Incorporated (MCHP) | 2.0% |
Marsh & McLennan Companies, Inc. (MMC) | 1.5% |
UnitedHealth Group Incorporated (UNH) | 1.5% |
- Dow Inc. ...
- International Business Machines (IBM) ...
- Verizon Communications (VZ) ...
- AT&T (T) ...
- Prudential Financial (PRU) ...
- Philip Morris International (PM) ...
- Walgreens Boots Alliance (WBA) ...
- 3M Company (MMM) 3M manufactures a variety of products that are used by businesses and consumers alike.
The Magnificent Seven stocks — Amazon.com (AMZN), Apple (AAPL), Google parent Alphabet (GOOGL), Meta Platforms (META), Microsoft (MSFT), Nvidia (NVDA) and Tesla (TSLA) are closing out a huge year, all easily beating the S&P 500 index.
The Bloomberg Magnificent 7 Price Return Index more than doubled in 2023, contributing to a gain of 54% for the Nasdaq 100 Index. An equal-weighted version of that index, however, gained less than 33%, while an index of small-cap tech rose less than 21%.
The Magnificent Seven stocks have delivered magnificent returns. In 2023, the group had delivered an average return of 71% (through mid-November), according to data from Goldman Sachs (GS 1.04%). That compared to a much more pedestrian return of 6% for the other 493 stocks in the S&P 500 for the year.
1. New York Stock Exchange (NYSE), USA. New York Stock Exchange (NYSE) is the world's largest stock exchange located at 11 Wall Street, New York City, USA. NYSE has a market capitalisation of $26.2 trillion (world's biggest stock exchange) and has more than 2400 companies listed.
New York Stock Exchange
But it has remained the largest stock exchange in the world by market capitalisation ever since the end of World War I, when it overtook the London Stock Exchange. In 2012, the NYSE was taken over by an American futures exchange group, Intercontinental Exchange.
Warren Buffett's Berkshire Hathaway (BRK. A) commands the No. 1 position, with an impressive stock price of over half a million dollars.
Symbol | Change % | Price |
---|---|---|
SGMT Series A D | +28.37% | 8.01 USD |
CRVO D | +27.12% | 13.97 USD |
ASYS D | +25.58% | 4.32 USD |
CBAY D | +25.38% | 32.21 USD |
Company | priceRs. | Change% |
---|---|---|
Redington | 199.05 | +8.98% |
Atal Realtech | 16.40 | +8.97% |
Shalimar Wires Inds | 25.37 | +8.93% |
Borosil Renewables | 535.05 | +8.90% |
What stocks make you the most money fast?
- Delta Air Lines, Inc. (NYSE:DAL) ...
- Raytheon Technologies Corporation (NYSE:RTX) Number of Hedge Fund Holders: 51. ...
- Lockheed Martin Corporation (NYSE:LMT) ...
- Amgen, Inc. ...
- Starbucks Corporation (NASDAQ:SBUX) ...
- Occidental Petroleum Corporation (NYSE:OXY)
Nvidia Stock Leads Magnificent Seven
Among the Magnificent Seven stocks, Nvidia (NVDA) was the top performer, with a scorching 235% year-to-date return through Dec. 15. The AI giant is extended past a new flat base's 505.48 buy point after a Jan. 8 breakout move.
Currently there's no upside potential for NVDA, based on the analysts' average price target. Is NVDA a Buy, Sell or Hold? Nvidia has a conensus rating of Strong Buy which is based on 34 buy ratings, 4 hold ratings and 0 sell ratings.
Magnificent 7 Helped Fuel Stock Market Gains in 2023
Coined by Bank of America analyst Michael Hartnett in 2023, the "Magnificent 7" refers to a group of high-performing U.S. stocks including Microsoft (MSFT), Amazon (AMZN), Meta (META), Apple (AAPL), Google parent Alphabet (GOOGL), Nvidia (NVDA), and Tesla (TSLA).
The "Magnificent Seven" tech stocks — Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA) — make up 29% of the S&P 500's market cap.
References
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