DailyBubble News
DailyBubble News

Here Are 3 “Magnificent Seven” Stocks Wall Street Thinks Will Soar More

Nvidia (NASDAQ: NVDA) has been a top performer on Wall Street, with its shares soaring nearly 240% in 2023 and up around 80% so far this year. However, analysts are cautious about its future growth, with the consensus price target barely above its current share price. Despite this, there are three other “Magnificent Seven” stocks that Wall Street believes will outperform Nvidia in the next 12 months.

1. Apple (NASDAQ: AAPL) has faced challenges in 2024, losing its spot as the world’s largest company to Microsoft. However, analysts are bullish on Apple, with an average 12-month price target reflecting an upside potential of over 9%. The tech giant’s upcoming developer conference could be a catalyst for growth, especially with expectations of unveiling its generative AI strategy.

2. Amazon (NASDAQ: AMZN) may not have delivered the same returns as Nvidia, but it has pleased investors with gains of 80% last year and 20% so far this year. The consensus price target for Amazon is roughly 6.5% above its current share price, with a majority of analysts rating it as a buy or strong buy. The company’s focus on generative AI and advertising business could drive further growth.

3. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), the parent company of Google, saw its shares jump 58% in 2023 and is up over 10% year to date in 2024. Wall Street is optimistic about Alphabet’s future, with the average analyst’s 12-month price target nearly 6% higher than the current price. The company’s strengths in Google Cloud, search dominance, and Waymo self-driving car business are key factors driving this optimism.

While Wall Street’s predictions are not always accurate, there is a possibility that Apple, Amazon, and Alphabet could see significant growth in the coming months. With Nvidia facing increased competition, these three stocks may offer better investment opportunities. DailyBubble agrees with the analysts’ positive outlook on these Magnificent Seven stocks.

In conclusion, while Nvidia has been a standout performer, investors may want to consider diversifying their portfolio with Apple, Amazon, and Alphabet for potential growth opportunities.

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x