Forget the "Magnificent Seven": Buy This Stock Instead
Not all stocks are created equal, and not all stocks equally matter to an index's performance. With the Nasdaq Composite up by 36% this year, those equities known as the "Magnificent Seven" have done quite a bit of the work. This nickname refers to a group of large, notable tech companies well-known to most investors: Nvidia, , Amazon, Apple, Meta Platforms, Microsoft, and Tesla.
There is much to like about these corporations; one can make a strong case for investing in each. However, I like another stock even better right now, though its business isn't quite as exciting. The company in question is biotech giant Vertex Pharmaceuticals (NASDAQ: VRTX). Read on to find out why I'd pick this drugmaker over any of the Magnificent Seven any day of the week.
It's no coincidence that tech stocks rebounded this year after a mostly abysmal 2022. The economy performed better in 2023 than we were initially told it would. The promised recession seems to have never gotten the memo, and consumer spending hasn't been that bad. These factors all benefited corporations that are part of the Magnificent Seven, whose businesses depend, to some extent, on the state of the economy.
Source Fool.com
Alphabet Inc. A Stock
With 92 Buy predictions and not a single Sell prediction Alphabet Inc. A is an absolute favorite of our community.
With a target price of 177 € there is a slightly positive potential of 13.14% for Alphabet Inc. A compared to the current price of 156.44 €.
