TSLA - Forget The Magnificent 7: Did Anyone Back These 1000% Gainers In 2023? | Benzinga
The sublime performances of Nvidia (NASDAQ:NVDA) and Meta Platforms (NASDAQ:META) stood out on the S&P 500 index as the best two equity gains of 2023.
The comeback of Big Tech was celebrated with a new name for the top stocks: The Magnificent Seven.
These so-called Mag7 stocks are:
- Nvidia, which gained nearly 240% in 2023
- Meta, up nearly 200%
- Tesla (NASDAQ:TSLA), with gains of 112%
- Intel (NASDAQ:INTL), which added 90%
- Amazon (NASDAQ:AMZN), which gained 83%
- Alphabet (NASDAQ:GOOGL) up 60%
- and Microsoft (NASDAQ:MSFT), which climbed 56%.
Mag7 gains in 2023 were responsible for a third of the total performance on the S&P 500 index, and on the SPDR S&P 500 ETF (NYSE:SPY), the exchange-traded fund that tracks the index. Both entities gained 25% during 2023.
But too much has already been written about these undoubted champions and, as the year closes, we’d like to celebrate some of the performances that outshone even Nvidia’s. But we’ll have to move outside the large caps ...