Despite the recent market sell-off, there is good reason to be bullish on the Magnificent Seven. monsitj/Getty Images
High bond yields and fears of recession have caused investors to sell this fall.
The so-called shares of the “Magnificent Seven”, large tech companies such as Apple and Tesla, have also fallen. But this could be a buying opportunity for investors.
Goldman Sachs outlines how high profits and low valuations could drive the mega-cap tech elite even higher.
A small group of large stocks are responsible for the majority of the market’s gains this year. And contrary to appearances, they won’t run out of steam anytime soon – at least if Goldman Sachs has its way.
Since the first quarter of this year, the “Magnificent Seven” have driven the S&P 500’s amazing rally. They include Apple, Amazon, Alphabet, Microsoft, Meta, Nvidia and Tesla.