Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Meta Platforms and Tesla lived up to their name in 2024 with solid gains.
Due to their outsized market capitalizations, Magnificent Seven stocks hold a disproportionate influence on the market-cap weighted Nasdaq composite and S&P 500 indexes.
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For an in-depth look at this issue, check out IBD’s page on the Magnificent Seven weightings, market capitalizations and the companies’ latest news stories.
Magnificent Seven Stocks Performance
| Company Name | Symbol | 2024 Performance |
|---|---|---|
| Alphabet | (GOOGL) | +35.5% |
| Amazon | (AMZN) | +44.4% |
| Apple | (AAPL) | +30.1% |
| Meta Platforms | (META) | +65.4% |
| Microsoft | (MSFT) | +12.1% |
| Nvidia | (NVDA) | +171.2% |
| Tesla | (TSLA) | +62.5% |
Source: IBD Data as of Dec. 31
Nvidia Stock Rebounds
Nvidia stock reversed 2% lower Thursday, giving up a large part of Wednesday’s rebound. Shares found resistance at their 50-day line, a key level to watch.
Last week, Nvidia CEO Huang delivered the keynote address at CES 2025. He unveiled new AI initiatives, including Nvidia Cosmos, a computing platform for accelerating physical AI development. Cosmos offers world foundation models to help developers make next-generation autonomous vehicles and robots.
The tech titan is an IBD Leaderboard stock.
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Magnificent Seven Stocks: Amazon Rises
Amazon.com (AMZN) reclaimed its 201.20 buy point during recent gains. And Amazon stock moved down 1.2% Thursday, still holding above the 50-day line.
On Oct. 31, Amazon said that it earned an adjusted $1.43 per share on sales of $158.9 billion for the September-ended quarter. Analysts polled by FactSet projected the Seattle, Wash.-based company would post adjusted earnings of $1.14 per share on sales of $157.3 billion.
Through its Amazon Bedrock platform, the e-commerce and cloud giant provides a fully managed service offering a choice of high-performing foundation models (FMs) from leading AI companies like AI21 Labs, Anthropic, Cohere, Meta and Stability AI.
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Tesla Stock Rebounds
Tesla (TSLA) skidded 3.4% Thursday, giving back a part of Wednesday’s rally. The EV giant set an all-time high on Dec. 18, topping out at 488.53.
Tesla reported fourth-quarter and full-year deliveries and production figures in recent weeks. The company said it had 495,570 deliveries in the fourth quarter, missing estimates.
Analysts had expected Tesla to report record Q4 deliveries of 500,000 or slightly more. Elon Musk, on the Q3 earnings call, predicted full-year deliveries would slightly top 2024’s 1,808,591. To do that, the EV giant must reach 514,925 in Q4.
Dow Jones Stocks In Magnificent 7: Apple, Microsoft
Besides recently added Nvidia stock, there are two other Dow Jones names among the Magnificent Seven: Apple (AAPL) and Microsoft (MSFT).
Apple stock sold off 4% Thursday, further below the 50-day line. Shares have fallen back below a flat base’s 237.49 buy point. The stock set fresh record highs on Dec. 26.
On Oct. 31, the consumer electronics giant offered weak sales guidance for the December quarter. Analysts say the iPhone 16 upgrade cycle is taking longer to materialize due to the slow rollout of the company’s much-touted artificial intelligence features.
And the Cupertino, Calif.-based company beat Wall Street’s targets for its fiscal fourth quarter ended Sept. 28. It earned an adjusted $1.64 a share, up 12% year over year, on sales of $94.93 billion, up 6%.
Meanwhile, Microsoft topped Wall Street’s targets for the software giant’s fiscal first quarter on strong cloud computing business on Oct. 30. However, the company guided below views for sales in the current quarter.
The Redmond, Wash.-based company earned $3.30 a share on sales of $65.6 billion in the quarter ended Sept. 30. Analysts polled by FactSet had expected fiscal Q1 earnings of $3.10 a share on sales of $64.6 billion. On a year-over-year basis, Microsoft earnings increased 10% while sales rose 16%.
Shares moved down 0.4% in Thursday’s trading, still below the 50-day level.
How Apple, Nvidia And Microsoft Stack Up Heading Into 2025
