2 "Magnificent Seven" Artificial Intelligence (AI) Stocks to Buy Hand Over Fist Before They Crush the Market in 2024
Technology stocks soared tremendously in 2023 following last year's dismal performance, evident from the impressive 65% jump in the Nasdaq-100 index this year. A group of seven megacap technology companies known as the "Magnificent Seven" have been the driving force behind the index's red-hot run in 2023.
The Magnificent Seven group is made up of Apple, Amazon, Alphabet, Meta Platforms (NASDAQ: META), Microsoft, Nvidia (NASDAQ: NVDA), and Tesla. These Magnificent Seven stocks delivered handsome gains to investors this year, driven mainly by the growing adoption of artificial intelligence (AI) in various industries.
Two of them, however, outperformed the rest by a wide margin. These two names are Nvidia and Meta Platforms. While Nvidia's AI-charged run sent the stock up a whopping 239% in 2023, Meta stock surged an impressive 191%, thanks to a solid turnaround in its business. The good part is that these two companies look set to deliver another solid year in 2024.
Source Fool.com
Meta Platforms Inc. Stock
We see a rather positive sentiment for Meta Platforms Inc. with 8 Buy predictions and 2 Sell predictions.
As a result the target price of 500 € shows a slightly positive potential of 4.52% compared to the current price of 478.4 € for Meta Platforms Inc..
