Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Meta Platforms and Tesla lived up to their name in 2024 with solid gains.
Due to their outsized market capitalizations, Magnificent Seven stocks hold a disproportionate influence on the market-cap weighted Nasdaq composite and S&P 500 indexes.
For an in-depth look at this issue, check out IBD's page on the Magnificent Seven weightings, market capitalizations and the companies' latest news stories.
Magnificent Seven Stocks Performance
| Company Name | Symbol | 2024 Performance |
|---|---|---|
| Alphabet | +35.5% | |
| Amazon | +44.4% | |
| Apple | +30.1% | |
| Meta Platforms | +65.4% | |
| Microsoft | +12.1% | |
| Nvidia | +171.2% | |
| Tesla | +62.5% |
Source: IBD Data as of Dec. 31
Nvidia Stock Dives
Nvidia stock tumbled 3.1% Friday, threatening to extend a losing streak to three sessions. Shares are below a double bottom's 146.54 buy point and their 50-day line.
Early this week, Nvidia CEO Huang delivered the keynote address at CES 2025. He unveiled new AI initiatives, including Nvidia Cosmos, a computing platform for accelerating physical AI development. Cosmos offers world foundation models to help developers make next-generation autonomous vehicles and robots.
The tech titan is an IBD Leaderboard stock.
Cracks Emerge In Nvidia's AI Armor. What's An Investor To Do?
Magnificent Seven Stocks: Amazon Falls
Amazon.com reclaimed its 201.20 buy point during recent gains. But Amazon stock moved down 1.4% Friday, nearing the 50-day line.
On Oct. 31, Amazon said that it earned an adjusted $1.43 per share on sales of $158.9 billion for the September-ended quarter. Analysts polled by FactSet projected the Seattle, Wash.-based company would post adjusted earnings of $1.14 per share on sales of $157.3 billion.
Through its Amazon Bedrock platform, the e-commerce and cloud giant provides a fully managed service offering a choice of high-performing foundation models (FMs) from leading AI companies like AI21 Labs, Anthropic, Cohere, Meta and Stability AI.
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Tesla Stock Slides
Tesla dropped 0.2% Friday, extending this week's losses, but still holding above last week's lows. The EV giant set an all-time high on Dec. 18, topping out at 488.53.
Tesla reported fourth-quarter and full-year deliveries and production figures last week. The company said it had 495,570 deliveries in the fourth quarter, missing estimates.
Analysts had expected Tesla to report record Q4 deliveries of 500,000 or slightly more. Elon Musk, on the Q3 earnings call, predicted full-year deliveries would slightly top 2024's 1,808,591. To do that, the EV giant must reach 514,925 in Q4.
Dow Jones Stocks In Magnificent 7: Apple, Microsoft
Besides recently added Nvidia stock, there are two other Dow Jones names among the Magnificent Seven: Apple and Microsoft.
Apple stock sold off 2.5% Friday, threatening to give up the 50-day line. Shares have fallen back to a flat base's 237.49 buy point. The stock set fresh record highs on Dec. 26.
On Oct. 31, the consumer electronics giant offered weak sales guidance for the December quarter. Analysts say the iPhone 16 upgrade cycle is taking longer to materialize due to the slow rollout of the company's much-touted artificial intelligence features.
And the Cupertino, Calif.-based company beat Wall Street's targets for its fiscal fourth quarter ended Sept. 28. It earned an adjusted $1.64 a share, up 12% year over year, on sales of $94.93 billion, up 6%.
Meanwhile, Microsoft topped Wall Street's targets for the software giant's fiscal first quarter on strong cloud computing business on Oct. 30. However, the company guided below views for sales in the current quarter.
The Redmond, Wash.-based company earned $3.30 a share on sales of $65.6 billion in the quarter ended Sept. 30. Analysts polled by FactSet had expected fiscal Q1 earnings of $3.10 a share on sales of $64.6 billion. On a year-over-year basis, Microsoft earnings increased 10% while sales rose 16%.
Shares moved down 1.1% in Friday's trading, falling further below the 50-day level. Microsoft stock is building a cup with handle that has a 456.16 buy point.
How Apple, Nvidia And Microsoft Stack Up Heading Into 2025
Meta Stock Retakes Buy Point
Shares of Meta Platforms reversed up 0.8% Friday, holding above a flat base's 602.95 buy point. Shares found support around their 50-day line last week.
On Oct. 30, the company reported third quarter earnings ahead of expectations, powered by a 19% revenue increase. But Chief Executive Mark Zuckerberg pledged to keep up the company's big spending on artificial intelligence and the metaverse.
Meta stock shows a 97 out of a perfect 99 IBD Composite Rating, per the IBD Stock Checkup.
Alphabet Out Of Buy Range
Alphabet lost 1.1% Friday, still out of buy range past a cup-with-handle's 182.49 buy point. The stock is within striking distance of record highs.
In recent weeks, the stock dived below its 50-day line after the U.S. Department of Justice proposed a breakup of the tech giant's Google search business.
On Oct. 29, Alphabet reported third-quarter earnings and revenue that topped Wall Street targets as artificial-intelligence infused internet search showed signs of boosting the core advertising business.
