Magnificent Seven? Nvidia and Meta
Nvidia and Meta have pulled away from the rest of the once-hot group as investors focus on AI.
For more than a decade, the stock market has been supercharged by a handful of technology behemoths that have offered the promise of hypergrowth.
You know them: household names such as Google parent Alphabet, Amazon.com, Apple, Facebook parent Meta, Microsoft and Tesla.
Grouped under various acronyms that played off their corporate monikers—FANG, FAANG, MAMAA—these companies became a staple of just about everyone’s portfolio.
Then last year, a newcomer joined the crowd: Nvidia. Its stock up more than sixfold since the start of 2023
But this year, the Magnificent Seven has looked more like the Magnificent Two. Nvidia and Meta have surged ahead, Microsoft and Amazon have done reasonably well, and the other three have trailed the S&P 500 index.
Bloomberg 21 March 2024
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