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Tech giants 2024: Nvidia, Meta, Microsoft and Amazon on the rise
Successful series put to the test: "Stock market darlings: The Magnificent Seven - Is the clique used to success in danger of breaking up?" Current developments at Apple, Tesla and the “Fab Four”.
Tech giants 2024: Nvidia, Meta, Microsoft and Amazon on the rise
The former stock market darlings Apple and Tesla appear to be losing ground to the tech giants Nvidia, Meta, Microsoft and Amazon. In particular, Nvidia, Meta, Microsoft and Amazon have established themselves as the new “Fab Four” and are on the rise. In contrast, Apple and Tesla have lost some of their luster recently and could be in danger of being left behind by the success-spoiled clique.
The stocks of Microsoft, Apple, Nvidia, Amazon, Alphabet, Meta and Tesla have been dubbed the “Magnificent Seven” in the wake of the artificial intelligence (AI) 2023 hype. They drove the US stock markets to new records and caused the S&P 500 index to rise continuously. However, it is noticeable that not all stocks in this alliance benefit equally from this success. Some of the rally's former driving forces no longer appear to be as strong as of late.
It remains to be seen whether the successful clique, consisting of the aforementioned technology companies, can continue to stay at the top together. The dynamics and competition in the tech sector are high, and changes in the market are always possible. It will be exciting to see whether the positions within this group shift or whether the Magnificent Seven can further extend their dominance.