Will The Magnificent 7 Eclipse China's Economy In 2024? Here's What To Look For
Portfolio Pulse from Hayden Buckfire
The 'Magnificent 7' technology companies have driven significant gains in the SPDR S&P 500 ETF Trust (SPY) in 2024. These companies include Microsoft, Apple, NVIDIA, Alphabet, Amazon, Meta Platforms, and Tesla. The Roundhill Magnificent Seven ETF (MAGS) has also seen substantial growth. The combined market cap of these companies is nearing the size of China's projected GDP for 2024. Key factors influencing future performance include AI development, earnings results, regulatory concerns, and the 2024 election.
July 05, 2024 | 8:07 pm
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POSITIVE IMPACT
Apple has gained 21.37% in 2024. The company's future performance will be influenced by AI developments, earnings, and regulatory challenges, including an FTC anti-trust lawsuit.
Apple's gains are driven by AI and earnings. Regulatory issues, including an FTC lawsuit, could impact future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Amazon has increased 33.38% in 2024. Future performance will depend on AI advancements, earnings, and regulatory developments.
Amazon's gains are driven by AI and earnings. Regulatory developments could impact future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Alphabet has risen 37.88% in 2024. The company's future will be influenced by AI developments, earnings, and regulatory challenges.
Alphabet's gains are driven by AI and earnings. Regulatory challenges could impact future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Roundhill Magnificent Seven ETF is up nearly 50% in the first six months of 2024, driven by the performance of the Magnificent 7 companies.
MAGS's performance is directly tied to the gains of the Magnificent 7 companies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Meta Platforms has gained 54.24% in 2024. Future performance will be influenced by AI developments, earnings, and regulatory challenges.
Meta's gains are driven by AI and earnings. Regulatory challenges could impact future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Microsoft has seen a 26.15% increase in 2024, driven by AI optimism and strong earnings. Future performance will depend on continued AI advancements and regulatory developments.
Microsoft's significant gains are tied to AI and earnings. Regulatory concerns and the 2024 election could impact future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
NVIDIA has surged 164.38% in 2024, largely due to AI advancements. Future performance will depend on continued AI success and meeting high earnings expectations.
NVIDIA's massive gains are driven by AI. Future performance hinges on continued AI advancements and meeting earnings expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust has seen significant gains in 2024, driven by the performance of the Magnificent 7 companies.
SPY's performance is significantly influenced by the gains of the Magnificent 7 companies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tesla is down 0.72% in 2024 but has gained over 40% in the past month. Future performance will depend on AI advancements, earnings, and regulatory developments.
Tesla's recent gains are driven by AI and earnings. Regulatory developments could impact future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100