“Magnificent Seven” Stocks to Buy First in August
When volatility picks up, investors have a tendency to gravitate to trusted companies that have a history of outperforming the broad-market indexes.
When volatility picks up, investors have a tendency to gravitate to trusted companies that have a history of outperforming the broad-market indexes. In 2023, it's been the “magnificent seven” that investors have flocked to. The magnificent seven consists of:
- Apple consistently accounts for around half of all U.S. smartphone market share.
- Microsoft's Windows operating system remains globally dominant on desktops, while Azure is the world's No. 2 cloud infrastructure service provider by market share.
- Alphabet's Google accounts for 92% of global internet search share, as of July 2023.
- Amazon's online marketplace brings in roughly 40% of U.S. online retail sales, while Amazon Web Services is the world's leading cloud infrastructure service provider.
- Nvidia controls up to 90% of artificial intelligence (AI)-driven graphics processing units deployed in high-compute data centers. Tesla is the only pure-play electric-vehicle (EV) manufacturer that's profitable on a recurring basis.
- Meta Platforms' four key social media sites (Facebook, Instagram, WhatsApp, and Facebook Messenger) attracted nearly 3.9 billion monthly active users in the June-ended quarter.
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