TSLA - With Tesla and Apple Stocks Recovering Is the Magnificent Seven Officially Firing on All Cylinders Again?
2024-07-11 04:05:00 ET
Megacap growth stocks sold off big time in 2022 before staging a massive recovery the following year. The rebound was led by household names, including Microsoft , Apple (NASDAQ: AAPL) , Nvidia , Alphabet , Amazon , Meta Platforms , and Tesla (NASDAQ: TSLA) -- a group known as the " Magnificent Seven ."
Apple and Tesla had a slow start to 2024, though. At one point, Tesla was the worst-performing stock in the S&P 500 . However, the narrative has completely changed. Besides Nvidia, Tesla and Apple have been the best-performing Magnificent Seven stocks over the last three months.
Now that these laggards have joined the party, the Magnificent Seven are universally back in favor. Here's what's driving Apple and Tesla higher and how to approach investing in the Magnificent Seven now.
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With Tesla and Apple Stocks Recovering, Is the "Magnificent Seven" Officially Firing on All Cylinders Again?