Move Over, FAANG: The "Magnificent 7" Is Here, and These 2 Stocks Might Be the Best Buys
FAANG is an acronym coined in 2017 by business news commentator Jim Cramer. It highlighted five of the market's strongest tech stocks at the time, many of which continue to outperform to this day. FAANG includes:
But the stock market is a dynamic beast, and companies are constantly finding new ways to create value, especially in the technology sector. As a result, the list of leaders rarely stays the same over the long term.
The term "Magnificent 7" in this context can be traced back to a research note issued in May by Bank of America analyst Michael Hartnett. It was used to group seven of the top performing stocks in the S&P 500 index this year, and most of those companies are working on one revolutionary technology: artificial intelligence (AI).
Source Fool.com
