It’s no secret that the Magnificent 7 stocks have performed exceptionally well throughout 2023 and into 2024. In this article, we’re going to look at the best case scenarios for those equities. Before getting into those best case scenarios let’s take a look at just how important they’ve become.
In 2023, The Magnificent 7 pulled the S&P 500 up by 24%. One tripled in value, another doubled, and the worst performers grew by nearly 60%. Their collective 106% return was phenomenal. It was so impressive that one head of research dubbed the remaining stocks within the S&P 500 the ‘Meager 493’ noting their relative lack of contribution.
That strong performance begs a question: just how much higher can the Magnificent 7 rise?
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