Jan. 23 ended up being a great day for the stock market. The S 500 and Dow Jones Industrial Average closed at record highs. Three of the "Magnificent Seven" stocks closed at all-time highs as well -- Microsoft (NASDAQ: MSFT) at $398.90 a share, Nvidia (NASDAQ: NVDA) at $598.73 a share, and Meta Platforms (NASDAQ: META) at $385.20 per share. The other four Magnificent stocks are Apple, Alphabet, Amazon, and Tesla.

Microsoft and Nvidia have each set new record highs on multiple occasions already this year. But it took until Jan. 23 for Meta Platforms to exceed its previous record close of $382.18 a share that was set on Sept. 7, 2021. Making it all the more impressive for Meta is that the stock has quadrupled since it fell below $90 a share in early November 2022.

Still, past performance is no guarantee of future results. Let's go through the pros and cons of these three companies to determine which has what it takes to keep the record highs coming and which is the best buy for 2024.

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Source Fool.com