If You're Selling The Magnificent 7 Following Outperformance In 2023, You Could Face This 'Nightmare Scenario' In 2024
Portfolio Pulse from Erica Kollmann
Joe Terranova of Virtus Investment Partners warns against selling the 'Magnificent Seven' tech stocks too early, as they may continue to outperform in 2024. Nvidia (NVDA) and Meta Platforms (META) have seen significant gains in 2023, with NVDA up 239% and META up over 190%. The Magnificent Seven collectively gained 75% in 2023, outpacing the S&P 500's other 493 stocks. Terranova advises maintaining some exposure to these stocks to avoid missing out on potential continued growth.
December 20, 2023 | 8:48 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Meta Platforms, Inc. shares have increased over 190% in 2023. With the potential for continued growth in 2024, as per Joe Terranova's advice, META could see sustained investor interest.
META's strong performance in 2023 and the possibility of continued growth in 2024, as indicated by Terranova, may lead to a positive short term impact on the stock.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Nvidia Corporation shares have surged 239% in 2023. Joe Terranova's comments suggest that the stock may continue to perform well in 2024, advising investors to maintain exposure.
Given the significant gains in 2023 and the expert's positive outlook for 2024, NVDA is likely to attract investor interest, potentially driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90