| Good Afternoon,
In 2023, investors became acutely aware of the phrase “Magnificent Seven.” This referred to the seven technology stocks that drove most of the 27% gains in the S&P 500 in the last 12 months.
However, through the first two months of 2024, many of those stocks have lost their sheen. Tesla Inc. (NASDAQ: TSLA) is down 24%. Apple Inc. (NASDAQ: AAPL) is down 9%. And Alphabet Inc. (NASDAQ: GOOGL) is down 4.5%.
At the same time, the S&P 500 is up. And this is during what’s expected to be the weak part of the year for equities. Analysts expect stronger performance in the second half of the year in anticipation of the Federal Reserve issuing at least one interest rate cut.
That means that other stocks must be doing well.
In this video, MarketBeat gives you seven stocks that you should be looking at to create your own Magnificent Seven in 2024.
 
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William Bushee
MarketBeat |
