Good afternoon, In 2023, investors became familiar with the Magnificent Seven stocks. This was a group of stocks that accounted for much of the growth in the S&P 500 index. The names on this list were a who's who of the top technology stocks, including, of course, Nvidia, which stood head-and-shoulders above the rest. But some of those Magnificent Seven stocks aren't looking so fabulous this year. Tesla, for example, is down 27%, and Apple is down nearly 10%. Analysts also believe that much of the growth is already priced into stocks like Meta Platforms and Amazon.com. On the other hand, the S&P 500 is up 6.7% as of March 5, 2024. And this is during what's expected to be the weak part of the year for equities. Analysts expect more robust performance in the second half of the year in anticipation of the Federal Reserve issuing at least one interest rate cut. Look, if you have a long position in these stocks, or a fund like the Invesco QQQ, you should still be holding. Unless you believe the short-term price movement points to more systemic problems. But in 2024, being nimble has its advantages. Many investors choose diversification that fits their individual investment goals and risk tolerance. After all, the most magnificent portfolio is the one that's right for you. With that in mind, several growth stocks are projected to post strong earnings growth in the next 12 months. In this special presentation, MarketBeat gives you seven stocks that you should be looking at to create your own Magnificent Seven in 2024.
View the 7 Stocks That Can Become Your Own Magnificent Seven Rebecca McKeever
The Early Bird
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