After climbing more than 30% year to date, the Nasdaq Composite is just 15% away from a new record high, the most conservative threshold for a new bull market. Investors looking to capitalize on that momentum may be drawn to what Wall Street has dubbed the "Magnificent Seven" stocks, a group of seven megacap companies that collectively account for more than 40% of the Nasdaq Composite by weighted exposure:

Investors can think of the Magnificent Seven as a revised version of the FAANG stocks, and every member of the group is an incredible company in its own right. But that does not mean every stock listed is a worthwhile investment at the present time.

Here's one Magnificent Seven stock to buy and one to avoid ahead of the Nasdaq bull market.

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Source Fool.com