This "Magnificent Seven" Stock Is Up 77% Over the Past Year, but It Could Go Much Higher
The "Magnificent Seven" stocks control a disproportionate amount of the global technology sector. These seven stocks alone could cause massive swings in the overall market regardless of whatever the remaining thousands of stocks are doing. In fact, these seven stocks together account for a market cap of over $13 trillion, with six out of seven in the trillion-dollar bracket.
E-commerce king Amazon (NASDAQ: AMZN) is sporting a market capitalization of $1.8 trillion, and its stock is up 77% over the past year. At this level, can it still go higher?
Amazon already accounts for about 38% of all U.S. e-commerce, a breathtaking amount, and 31% of all cloud computing business, equally outstanding. So, you can't say it's just getting started, but considering the opportunity ahead, the growth runway still looks wide open.
Source Fool.com
