TECH - Advantage IBM Oracle Dell: 90's Tech Titans Are Outshining 'Magnificent Seven' — Analyst Tells Why Market Is Going Gaga Over Them | Benzinga
The so-called “Magnificent Seven” stocks served as the backbone of the rally seen in 2023, and as the new year unfolds, most have maintained their uptrend amid volatility. However, one category of stocks has outperformed the “Mag 7’s” performance over the past 90 days, and a portfolio manager shared insights into the reasons for their exceptional performance.
What Happened: Companies capable of generating robust cash flow are back in favor, according to Sarat Sethi, Managing Partner at Douglas C. Lane & Associates. Speaking on CNBC’s Last Call late Thursday, the portfolio manager remarked, “The market is being very selective; it’s not just saying, ‘Hey, you gotta have great margins, you have to have really growing cash flow.'”
Sethi responded to the CNBC host’s observation that shares of “90’s tech titans” such as International Business Machines Corp. (NYSE:IBM), Oracle Corp. (NYSE:ORCL), Dell Technologies, Inc. (NYSE:DELL), and Intel Corp. (NASDAQ:INTC) have gained more than the “Mag 7” shares over the past three months.
Oracle is in cloud computing and is also involved in AI, Sethi ...