The FAANG acronym was coined by CNBC personality Jim Cramer in 2017, and it references a group of five technology stocks that tend to consistently outperform the broader market:

While all of those stocks remain solid investments, the market's leadership evolved thanks to new technologies like artificial intelligence (AI). This year, Bank of America analyst Michael Hartnett assigned a name to a new group of stocks investors have focused on. It's called the "Magnificent 7" and it includes seven of the benchmark S 500 index's top performers in 2023:

Magnificent 7 Stock

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Source Fool.com