T - Forget FAANG and the Magnificent Seven. Here Are 2 AI Five Stocks to Buy Right Now.
2024-02-23 05:44:00 ET
History is proof the U.S. stock market always climbs to new highs given enough time. But the stocks that lead the charge higher aren't always the same. To help find the new leaders, Wall Street often groups them together to separate them from the rest of the market. For example, CNBC financial analyst Jim Cramer coined the FAANG acronym in 2017 to describe five of the largest technology companies at the time:
That leadership shifted in 2023 when a group of seven stocks drove the S&P 500 index to an annual return of twice its historical average. Bank of America analyst Michael Hartnett dubbed those stocks the "Magnificent Seven," and they include:
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Forget FAANG and the "Magnificent Seven." Here Are 2 "AI Five" Stocks to Buy Right Now.