Is Tesla Still A Magnificent 7 Stock? EV Maker Could Get Bumped By These Companies
Portfolio Pulse from Neil Dennis
Tesla's position in the Magnificent Seven, a group of the largest S&P 500 companies, is threatened as its market cap falls to $603.71 billion, ranking it ninth. Broadcom (AVGO) and Eli Lilly (LLY) are seen as potential replacements due to their strong performance and market cap growth. Berkshire Hathaway (BRKA) also surpasses Tesla in market cap. Analysts have positive outlooks on AVGO and LLY, with significant price target increases, while Tesla faces challenges with demand and stock performance.
February 09, 2024 | 2:38 pm
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POSITIVE IMPACT
Broadcom's market cap growth and positive analyst outlook, including a significant price target increase, suggest a potential short-term upside.
Broadcom's increasing market cap and positive analyst coverage, including a high price target, indicate strong investor confidence and potential for stock price growth.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Berkshire Hathaway's surpassing Tesla in market cap and its consistent growth could maintain its positive momentum in the short term.
Berkshire Hathaway's growth to surpass Tesla in market cap and its historical performance suggest continued investor confidence and potential for further gains.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Eli Lilly's record share prices and positive earnings report, coupled with analyst price target increases, indicate a strong short-term growth potential.
Eli Lilly's strong financial performance and favorable analyst ratings, with raised price targets, suggest a bullish outlook for the stock in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Tesla's market cap decline to $603.71 billion and its fall to ninth in S&P 500 rankings could negatively impact investor sentiment.
Tesla's decline in market cap and ranking reflects negatively on its stock performance, potentially affecting investor confidence and stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100