Halfway Into 2024: 2 Underperforming “Magnificent Seven” Stocks to Buy Before They Take Off

The market leaders in the business world are experiencing some ups and downs in 2024, with artificial intelligence (AI) playing a significant role in shaping their future prospects. The “Magnificent Seven” companies are facing challenges, but opportunities in AI could be the key to their success.

Apple, despite facing weak iPhone sales earlier this year, is showing signs of a comeback. The company’s recent unveiling of AI-powered features for its operating system, iOS 18, has sparked investor interest. These new features, such as text summarization and personalized search assistance from Siri, are expected to drive iPhone upgrades and boost revenue in the upcoming holiday quarter. Analysts are optimistic about Apple’s growth potential, with some forecasting double-digit revenue growth in the near future.

On the other hand, Tesla has seen a decline in its stock price due to various factors, including weak car demand and uncertainty around CEO Elon Musk’s performance award. However, the recent shareholder vote to reinstate Musk’s pay package has lifted a major cloud over the stock. Tesla’s upcoming launch of Cybercab in August is expected to open up a significant market opportunity in the robotaxi industry. Analysts believe that Tesla’s revenue from robotaxis could surpass that from electric cars in the long term, leading to a higher valuation for the company.

DailyBubble believes that both Apple and Tesla have strong growth potential in the AI space, which could drive their stocks higher in the second half of 2024 and beyond. As these companies continue to innovate and expand their AI capabilities, investors may see substantial returns on their investments. Keeping an eye on these market leaders could prove beneficial for long-term investors looking to capitalize on the emerging opportunities in AI.