TSLA - Halfway Into 2024: 2 Underperforming Magnificent Seven Stocks to Buy Before They Take Off
2024-06-30 04:30:00 ET
The " Magnificent Seven " represent some of the strongest businesses around. However, a few members of this elite group have failed to live up to expectations in the first half of 2024.
Since the beginning of the year, the widely followed S&P 500 index has climbed 14.8% through June 26, but weak iPhone sales have weighed on Apple (NASDAQ: AAPL) shares, which are up 11.6%. Tesla (NASDAQ: TSLA) has been the worst performer, with a recent dip in sales from its electric cars sending the stock down 21%.
Sometimes, betting on strong companies when they are experiencing temporary weakness can pay off over the long run. Indeed, both companies have promising growth opportunities unfolding in artificial intelligence (AI) , which could have a huge impact on shareholder returns over the next decade.
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Halfway Into 2024: 2 Underperforming "Magnificent Seven" Stocks to Buy Before They Take Off