The Magnificent Seven stocks were trading mixed on Thursday morning, but they’ve had a stellar 2024, and the future looks bright.
This year, Apple is up 34%, Nvidia has soared 180%, Alphabet has climbed 39%, Meta Platforms has increased 70%, Amazon.com has soared 49%, Tesla has flown 82%, and Microsoft has gained 16%.
“The Magnificent Seven exhibit impressive top-line and bottom-line growth, outstanding operating margins, and monopolistic positions within their industries,” wrote David Miller, chief investment officer at Catalyst Funds. “Fundamentally, there’s little standing in their way, and even the obstacles they face have historically benefited shareholders.”
