Make Way For The “New Mag 7”

Since 2023, the famed Magnificent 7 stocks have accounted for more than half the S&P 500’s 70%+ gains.

These seven stocks: Nvidia Corp. (NVDA), Microsoft Corp. (MSFT), Apple Inc. (AAPL), Alphabet Inc. (GOOGL), Amazon.com Inc. (AMZN), Meta Platforms Inc. (META) and Tesla Inc. (TSLA), have been at the heart of the AI stock trend since the launch of ChatGPT in November 2022.

But now, a new “second wave” of AI tech is calling the Mag 7’s dominance into question. Is their reign in the tech sector finally over?

Today, I’ll analyze the Mag 7’s performance, then dive into a new crop of stocks that may replace some of these strong performers as the AI trade continues.

This post appeared first on Money & Markets.