In the recent past, Nvidia Corp., a leading artificial intelligence chipmaker, has joined this elite group. Its stock has increased more than six times since the beginning of 2023, leading portfolio advisers to consider a new investment strategy centered around these seven companies, now referred to as the "Magnificent Seven."
Key takeaways:
- The stock market has been significantly influenced by a few technology giants including Alphabet, Amazon.com, Apple, Meta, Microsoft, and Tesla for over a decade.
- These companies, often referred to by acronyms like FANG, FAANG, MAMAA, have become a common part of most investment portfolios.
- In recent times, Nvidia Corp., a leading artificial intelligence chipmaker, has joined this influential group.
- With Nvidia's stock increasing more than sixfold since 2023, investment strategists have started considering a new investment strategy based on these seven companies, referred to as the 'Magnificent Seven'.