Here are three Magnificent 7 stocks to watch in the stock market today.
The Magnificent 7 stocks, composed of mega-cap tech giants, significantly influence major stock market indexes like the S&P 500 and Nasdaq 100. Coined in 2023 for their robust market performance, this group includes Apple, Microsoft, Alphabet (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), NVIDIA, Tesla (NASDAQ: TSLA), and Meta Platforms (NASDAQ: META). Despite high interest rates affecting smaller stocks, these firms have leveraged advancements in artificial intelligence (AI) to maintain strong market positions, although there’s concern their valuations might overly reflect AI’s potential.
These stocks are popular for their solid operations and historical stock performance. This has aligned well with AI developments, potentially positioning them to benefit significantly from future tech advancements. Together, they make up a large portion of the S&P 500 and Nasdaq 100, heavily influencing these indexes. This dominance makes it crucial for investors to pay close attention to these stocks. That said, here are three Mag 7 stocks to watch in the stock market today.
Mag 7 Stocks To Consider Now
Microsoft (MSFT Stock)
To initiate, Microsoft Corporation (MSFT) is a global technology company popular for its software, services, devices, and solutions. For example, Windows operating systems, Microsoft Office suite, and cloud computing platform, Azure. Microsoft also offers a wide range of devices, including Surface laptops and tablets, and engages in the gaming industry through its Xbox gaming consoles and cloud gaming services.
This month, Microsoft announced a new initiative to bolster cybersecurity for rural hospitals in America. This effort responds to the sharp rise in cyberattacks on the healthcare sector, notably affecting facilities that serve over 60 million rural residents. Microsoft’s program will deliver crucial security services and training, tailored to the unique needs of rural hospitals.
Looking at the past month of trading, shares of Microsoft stock are up 4.60%. Meanwhile, during Monday morning’s trading action, MSFT stock is trading slightly green up 0.03%, currently trading at $449.92 a share.
NVIDIA Corporation (NVDA Stock)
Next, NVIDIA Corporation (NVDA) specializes in graphics processing units (GPUs) for gaming and professional markets, as well as system-on-a-chip units (SoCs) for the mobile computing and automotive market. The company is a major player in the acceleration of artificial intelligence with its GPU-based deep learning, which has fostered developments in autonomous vehicles, robotics, and big data analytics.
Earlier this month, NVIDIA reported the launch of NVIDIA Omniverse Cloud Sensor RTX. This is a new suite of microservices designed to enhance the development of autonomous machines. This technology facilitates the simulation of physically accurate sensor environments, thereby speeding up the creation and testing of AI for autonomous vehicles, robotic systems, and smart spaces. By using Omniverse Cloud Sensor RTX, developers can test and refine their AI models in realistic virtual settings before actual deployment, which can improve safety and reduce both time and costs.
In the last month of trading action, NVIDIA stock is up 14.11%. While, on Monday morning, shares of NVDA stock are down 3.96% on the day so far, trading at $121.55 a share.
Apple (AAPL Stock)
Last but not least, Apple Inc. (AAPL) is a global technology leader known for its consumer electronics, software, and online services. Famous for its innovative products such as the iPhone, iPad, and Mac computers, Apple also provides a variety of services including Apple Music, iCloud, and the App Store.
This month, Apple announced the launch of Apple Intelligence. This is a comprehensive personal intelligence system designed for its iPhone, iPad, and Mac devices. Apple Intelligence leverages generative models and personal context to enhance device usability and task efficiency, deeply integrated into iOS 18, iPadOS 18, and macOS Sequoia. This system utilizes Apple silicon to analyze and generate language and images, manage app activities, and streamline daily operations securely.
Moreover, in the last month of trading, Apple stock has jumped higher, up 10.33%. With that said, on Monday morning, shares of AAPL stock are continuing to move higher, up 1.08%, trading at $209.65 a share.
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Originally Posted June 24, 2024 –3 Magnificent 7 Stocks To Watch Today
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