Crafting Your Portfolio's Magnificent Seven: Top Stocks for 2024

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In 2023, investors became acutely aware of the phrase "Magnificent Seven." This referred to the seven technology stocks that drove most of the 27% gains in the S&P 500 in the last 12 months.

However, through the first two months of 2024, many of those stocks have lost their sheen. Tesla Inc. (NASDAQ: TSLA) is down 24%. Apple Inc. (NASDAQ: AAPL) is down 9%. And Alphabet Inc. (NASDAQ: GOOGL) is down 4.5%.

At the same time, the S&P 500 is up 6.7% as of March 5, 2024. And this is during what's expected to be the weak part of the year for equities. Analysts expect stronger performance in the second half of the year in anticipation of the Federal Reserve issuing at least one interest rate cut.

That means that other stocks must be doing well. In this video, MarketBeat gives you seven stocks that you should be looking at to create your own Magnificent Seven in 2024.

Stocks Mentioned in This Episode

Company	MarketRank™	Current Price	Dividend Yield	P/E Ratio
NVDA NVIDIA	4.4607 of 5 stars	$869.13 -0.9%	0.02%	72.79
AMD Advanced Micro Devices	4.4893 of 5 stars	$159.79 +1.5%	N/A	307.29
PLTR Palantir Technologies	2.7706 of 5 stars	$22.71 +0.8%	N/A	252.36
PANW Palo Alto Networks	4.6232 of 5 stars	$294.72 +1.1%	N/A	46.05
MNST Monster Beverage	4.1594 of 5 stars	$53.98 +1.1%	N/A	34.83
LLY Eli Lilly and Company	4.8187 of 5 stars	$732.55 -0.1%	0.71%	126.30
BKNG Booking	4.1955 of 5 stars	$3,500.83 -0.6%	1.00%	29.68

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Chris Markoch, Guest

MarketBeat Contributor, MarketBeat

Chris Markoch is a freelance financial copywriter with over five years of experience covering various aspects of the financial markets. You may find his writing a little different than other stock articles you’ve read. And that’s OK with him. Chris doesn’t have a traditional finance background. What he does bring to the table is a strong business and marketing background having worked for agencies that serviced Fortune 500 companies. With that in mind, he isn’t overly impressed with what companies say, and more focused on what they do. And because buyer behavior dictates so much of what happens with a stock, Chris always keeps the end consumer close in mind. Chris has been writing for MarketBeat since 2018.

Laycee Kluin, Host

Digital Marketing Strategist, MarketBeat

As MarketBeat's Digital Marketing Strategist, Laycee helps with the marketing side of tasks including developing email campaigns, running the promotion of the MarketBeat products and exploring social media opportunities. She felt called to the Marketing industry because she enjoys collaborating with people and making connections. The University of Sioux Falls alum majored in Media Studies with minors in Communications and Spanish. Laycee brings a background in Financial Services Marketing.

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