The "Magnificent Seven" is a group of seven of the world's largest technology stocks. Last year, they delivered an average return of 112%, which crushed the 24% gain in the benchmark S 500 index. The seven stocks include:

However, the Magnificent Seven has splintered in the early stages of 2024, with Apple and Tesla trading in the red despite the 10% gain in the S 500. Tesla's whopping 31% year-to-date loss has prompted some Wall Street analysts to call for its removal from the Magnificent Seven.

Tesla is working on several artificial intelligence (AI)-powered innovations like fully autonomous self-driving software and humanoid robots, but 85% of its revenue still comes from selling electric vehicles (EVs). The company sold a record-high 1.8 million cars last year, but it represented growth of 38% compared to its 2022 result, which was far below CEO Elon Musk's 50% target.

Continue reading

Source Fool.com