Monday, July 22, 2024

Meta Reclaims Buy Point as Nvidia Stock Slides: Seven Outstanding Stocks

Magnificent Seven Stocks Performance and Analysis

The Magnificent Seven stocks, including Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla, have been the talk of the stock market in 2024. These tech giants started the year strong with big gains, but as we approach the end of the second quarter, we are seeing a significant difference in their performance.

According to data from IBD, here is a breakdown of how each of the Magnificent Seven stocks has performed year-to-date in 2024:

– Alphabet (GOOGL): +24.0%
– Amazon (AMZN): +17.4%
– Apple (AAPL): +0.8%
– Meta Platforms (META): +34.9%
– Microsoft (MSFT): +10.0%
– Nvidia (NVDA): +132.2%
– Tesla (TSLA): -29.1%

These stocks, due to their large market capitalizations, have a significant impact on the Nasdaq composite and S&P 500 indexes.

Among the standout performers, Amazon is breaking out with a strong rally after surpassing expectations in its first-quarter earnings and sales report. Alphabet is hitting new highs following positive earnings and the announcement of its first-ever dividend. Nvidia is leading the pack with an impressive 132% year-to-date return, boosted by beating Wall Street’s targets and a recent stock split.

On the other hand, Tesla has faced some challenges but is still showing resilience with a gain on Friday and plans to launch its Full Self-Driving in China.

Two Dow Jones stocks in the Magnificent Seven, Apple and Microsoft, are also making waves in the market with positive movements in their stock prices.

As the market continues to evolve, it’s essential to stay updated on these top-performing stocks and their impact on the overall market landscape. Be sure to keep an eye on these companies as they navigate the ever-changing market conditions in the coming months.

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