LLY - Better Buy in 2024: The Magnificent Seven or the Terrific 10?
2024-01-29 06:26:00 ET
Microsoft , Apple , Nvidia , Amazon , Alphabet , Meta Platforms , and Tesla -- a group that Bank of America analyst Michael Hartnett dubbed the " Magnificent Seven ," -- have taken the market by storm for an incredible outperformance in 2023 and a sustained run so far in 2024.
But what about the market's most valuable non-tech-focused companies?
Interestingly enough, if you look at the highest weighted companies in the S&P 500 , it is dominated by the Magnificent Seven and Broadcom , a semiconductor company. After that, there's a slew of non-tech-focused companies. I'll call them the "Terrific 10," and they include Berkshire Hathaway , Eli Lilly (NYSE: LLY) , JPMorgan Chase , UnitedHealth Group , Visa , Johnson & Johnson , ExxonMobil , Home Depot , Mastercard , and Procter & Gamble .
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Better Buy in 2024: The "Magnificent Seven" or the "Terrific 10"?