SHOP - Forget the Magnificent Seven: This Beaten-Down Growth Stock Is the Next Trillion-Dollar Company
2024-03-02 08:20:00 ET
Investing in " Magnificent Seven " stocks has proven a reliable way to make big profits. Many of these companies -- Apple , Amazon , Alphabet , Meta Platforms , Microsoft , Nvidia , and Tesla -- have seen their share prices double, triple, or even quadruple in value over just a handful of years.
While investing in the Magnificent Seven may still be a smart decision, investors looking for the biggest growth opportunities should look elsewhere. After huge runs, nearly every company in the Magnificent Seven is now worth at least $1 trillion, the exception being Tesla, which has a market capitalization of around $650 billion.
These megacorporations should continue to grow, but doubling or tripling in size will be increasingly difficult. It's unlikely any of these stocks will soar 1,000% over the coming years. If you want that type of rapid growth, you need to focus on stocks like Shopify (NYSE: SHOP) .
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Forget the "Magnificent Seven:" This Beaten-Down Growth Stock Is the Next Trillion-Dollar Company