Suche
Mein Konto
Magnificent 7: NVIDIA dominates in the first quarter of 2024
The Magnificent 7 stocks from NVIDIA, Microsoft, Tesla and Co. in the first quarter: Find out who convinced and who disappointed. Read more about it now! 📈📉 #Stocks #Stock Market #Quarterly Report #NVIDIA #Tesla #Microsoft
Magnificent 7: NVIDIA dominates in the first quarter of 2024
The Magnificent 7 stocks, including Apple, NVIDIA, Alphabet, Meta, Amazon, Tesla and Microsoft, represented the high flyers on the US stock market last year. In the first quarter of 2024, the majority of Mag 7 shares recorded a positive performance, with NVIDIA showing a particularly convincing performance with a price increase of 82.46 percent. The company maintained its position as the “King of the Magnificent 7” and exceeded expectations with impressive quarterly results that showed a jump in revenue of more than $22 billion. NVIDIA also presented the new Blackwell AI processor architecture, which was very well received by analysts and had the potential to increase the gap to its competitors.
The shares of Meta, the Facebook parent, also rose by around 37.18 percent in the first quarter. Meta delighted investors with strong sales and profit growth as well as the announcement that it would pay a dividend for the first time. Despite positive news, Meta, along with Apple and Alphabet, was targeted by the EU Commission for possible violations of the Digital Markets Act, which could potentially negatively impact share prices.
Amazon, Microsoft and Alphabet also showed positive performance in the first three months of 2024. Amazon rose 18.72 percent, while Microsoft and Alphabet rose 11.88 percent and 8.04 percent, respectively. Microsoft beat expectations with a strong rise in sales and profits even as it faced an FTC investigation over AI investments alongside Amazon and Alphabet. In addition to the FTC investigation, Alphabet faced problems with its Gemini image generator and disappointing quarterly results.
Apple, on the other hand, suffered setbacks in the first quarter of 2024 as its shares fell 10.93 percent. Criticism and legal problems weighed on the company, including a billion-dollar fine from the EU Commission for market abuse and an antitrust lawsuit from the US Department of Justice. Apple also stopped work on its own electric car and struggled with falling iPhone sales.
Tesla proved to be a flop stock among the Magnificent 7 in the first quarter of 2024, as its share price fell 29.25 percent. Problems with the presentation of the balance sheet, disappointments in deliveries and negative headlines, including an arson attack in the gigafactory, weighed on the company. Criticism of CEO Elon Musk and general uncertainty continued to have a negative impact on Tesla shares. In the first quarter, NVIDIA dominated the Magnificent 7 stocks with top performance, while Tesla stood out as a flop stock.