What is Magnificent 7 (M7) in Finance? #stockmarket #trading

What is “Magnificent Seven”?

The “Magnificent 7” in finance refers to seven powerful tech stocks: Google parent Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla.

The term, is originally from a 1960 Western film, and was repurposed by Bank of America analyst Michael Hartnett in 2023.

Hartnett used it to highlight these companies’ market dominance and their significant influence on technology, consumer behaviour, and economic trends.

The stock prices of these companies went up in 2023, especially because of their connection to AI. These companies are expected to benefit a lot from AI in the future, either by offering AI services or making the chips that AI needs.

Overall in 2024, these companies are still performing well but their growth rates may be steadier or slightly lower than the rapid gains experienced in 2023.

Do you invest into one of those companies? Share in the comments👇🏼

#stockmarket #m7 #magnificent7 #stockmarketlab #finance #financialliteracy #financialmarkets #trading #tradingtips #stockmarketeducation #financeeducation #daytrader