The S 500 has soared from its bear market low 16 months ago, and earlier this year, the index confirmed what everyone eagerly was waiting for: We're in a new bull market. A handful of stocks, in particular, have been leading this new wave of market positivity. I'm talking about the "Magnificent Seven," a group of leaders that each is tied to the technology industry: Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), Apple, Amazon, Meta Platforms, Microsoft, Nvidia, and Tesla.

Last year, each of these innovative players climbed in the double or triple digits. Considering they are among the top 10 most heavily weighted shares in the S 500, they contributed heavily to the index's gains.

After such performance, you may expect the valuations of these stocks to have exploded, too -- but one, in particular, still trades for an absolutely dirt cheap valuation. Should this tech stock be your top buy?

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Source Fool.com