Meet the Best-Performing "Magnificent Seven" Stock Over the Last Month (Hint: It's Not Nvidia)
The "Magnificent Seven" was coined by Bank of America analyst Michael Hartnett to describe seven large, tech-focused companies. Due to a combination of their size, underlying fundamentals, and growth, these companies led the market rally in 2023. They have also contributed the bulk of the S&P 500's gains in 2024.
However, something has changed over the last month. One of the three Magnificent Seven stocks that had been down year to date is suddenly up -- a lot -- over the last month.
Here's why Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) has suddenly become the hottest Magnificent Seven stock and why it remains a great value even though it is hovering around a 52-week high.
Source Fool.com
Alphabet Inc. C Stock
€145.62
-5.610%
The stock is an absolute favorite of our community with 28 Buy predictions and no Sell predictions.
With a target price of 165 € there is a slightly positive potential of 13.31% for Alphabet Inc. C compared to the current price of 145.62 €.
