3 Magnificent 7 Stocks to Buy Now: June 2024

InvestorPlace2024-06-18

The Magnificent 7 has had a glorious run, thanks to AI. But don’t be so quick to give up on them, as valuations remain far from anything I’d consider “bubbly.” Meta Platforms (META): As it becomes an ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2444483031?lang=en_US&edition=full_marsco","thumbnail":"","is_english":true,"pubTime":"2024-06-18 19:05","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2444483031","market":"us","top_or_hot":-1,"title":"3 Magnificent 7 Stocks to Buy Now: June 2024","media":"InvestorPlace","content":"<div>\n<p>The Magnificent 7 has had a glorious run, thanks to AI. But don’t be so quick to give up on them, as valuations remain far from anything I’d consider “bubbly.”\nMeta Platforms (META): As it becomes an ...</p>\n\n<a href=\"https://investorplace.com/2024/06/3-magnificent-7-stocks-to-buy-now-june-2024/\">Source Link</a>\n\n</div>\n","source":"investorplace_stock_picks","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Magnificent 7 Stocks to Buy Now: June 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Magnificent 7 Stocks to Buy Now: June 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-18 19:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2024/06/3-magnificent-7-stocks-to-buy-now-june-2024/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Magnificent 7 has had a glorious run, thanks to AI. But don’t be so quick to give up on them, as valuations remain far from anything I’d consider “bubbly.”\nMeta Platforms (META): As it becomes an ...</p>\n\n<a href=\"https://investorplace.com/2024/06/3-magnificent-7-stocks-to-buy-now-june-2024/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://investorplace.com/2024/06/3-magnificent-7-stocks-to-buy-now-june-2024/","article_id":"2444483031","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2444483031","pubTimestamp":1718708700,"columns":[],"sourceInfo":{"source_id":"investorplace_stock_picks","name":"InvestorPlace stock picks"},"weMediaInfo":null,"summary":"The Magnificent 7 stocks could make the stock market a whole lot more top-heavy in the second half. Which ones are poised to keep booming?","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"立即购买的3只宏伟的7只股票：2024年6月","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":1,"GOOGL":1,"GOOG":1,"META":1,"NVDA":1,".IXIC":0.9,"QLD":0.6,"TQQQ":0.6,"SQQQ":0.6,"QQQ":0.6,"PSQ":0.6,"QID":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"The Magnificent 7 has had a glorious run, thanks to AI. But don’t be so quick to give up on them, as valuations remain far from anything I’d consider “bubbly.”\nMeta Platforms (META): As it becomes an AI-first company rather than a metaverse-first one, perhaps greater multiple expansion is deserved.\nApple (AAPL): The stock’s getting expensive again, but do you remember the last time Apple had a catalyst this sizeable or timely?\nAlphabet (GOOG, GOOGL): Alphabet is the ultimate value stock for investors who want to own an AI frontrunner on the cheap.\n\n\n\n\n\n \n\nSource: Andrey_Popov / Shutterstock.com\n\n\n\nThe Magnificent Seven companies are continuing to seize the AI opportunity at hand. As we head into the second half, there’s a good chance the enthusiasm over new AI products could continue, especially as Apple (NASDAQ:AAPL) helps pave the way for AI on the edge (slang for on-device AI).\nThe rise of edge AI doesn’t mean cloud-based AI demand will fade. In fact, I’d argue the opposite will be true. As Apple connects its massive user base to a private cloud for requests it can’t handle on the device, we may very well see a continuation of the boom seen in AI data centers.\nEither way, the Magnificent Seven are leading the charge as AI technology gets better as every week and month goes by. Over time, we may wander into new frontiers in generative AI with text-to-video models and edge devices.\nEach one of the Magnificent Seven firms is a serious contender that just may win the AI race in the future, one in which AGI (artificial general intelligence) marks the finish line or, at the very least, the final rush toward that finish line. Here are the Magnificent 7 stocks to focus on right now.\nMeta Platforms (META)\nSource: rafapress / Shutterstock.comFirst, we have Meta Platforms (NASDAQ:META), the Zuckerberg-run social-media firm ready and willing to continue spending big money on next-generation technologies, like generative AI and virtual and augmented reality (VR and AR). Some early benefits from AI have already worked their way into the stock. From content recommendation to ad enhancement, Meta seems more like an AI-first company than a metaverse-first one, at least for the time being.\nLooking into the future, it’s hard to tell how much of Meta’s coming quarters will be propelled by prior investments in AI. However, for those who want a firm dedicated to coming at or close to the top of the pack in the AI race over the long run, I’d argue META stock is a top Magnificent Seven contender to consider. \nThe company’s open-source LLaMA 3 model is very impressive as it stands (it’s my favorite ChatGPT rival currently), and it will only get better from here as Meta invests heavily to secure future growth. As for the metaverse, it’s hard to tell when the platform will power sales and earnings. Either way, I don’t see metaverse upside potential priced into META stock at 29.1 times trailing price-to-earnings (P/E).\nApple (AAPL)\nSource: sylv1rob1 / Shutterstock.comApple faced many doubters in the first quarter of 2024 when analysts downgraded the stock, bringing some bearish headwinds to light. Indeed, the stock seemed too expensive at the time, given its slowing growth. And though many wrote off AAPL stock after a turbulent first half, I think it’s safe to say that Tim Cook proved everybody wrong after one of the best WWDC events ever. \nFurther, Apple’s epic $110 billion buyback could not have come at a better time, just a few weeks ahead of one of the stock’s biggest near-term surges in recent memory. Now that AAPL stock is at a new high, at over $212 per share, with a respectable 14% gain year-to-date, questions linger as to where the titan heads from here.\nAt 28.9 times forward (P/E), Apple shares look lofty. But the current valuation, I believe, still underestimates the magnitude of a potential device upgrade boom that could be just around the corner.\nWe all saw how fast enterprises were to scoop up the latest Nvidia (NASDAQ:NVDA) AI hardware over the past two years. The big question for Apple is whether the consumer will also be nearly as quick to buy an iPhone 16 Pro or the current iPhone 15 Pro, which can also support Apple Intelligence, for a smarter Siri.\nTime will tell, but I don’t remember the last time there was a catalyst this big for Apple.\nAlphabet (GOOG, GOOGL)\nSource: IgorGolovniov / Shutterstock.comAlphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is the “value play” of the Magnificent Seven right now, with a P/E multiple of 27.4 trailing P/E. In the pre-ChatGPT era, it was often thought that Google was the best AI company to own. Though some may have changed their opinions, I continue to view Alphabet as still one of the biggest winners from the AI revolution, even though some may shrug off innovations such as its large language model Gemini or DeepMind’s video generator Veo.\nGemini and Veo represent profound technologies that, in my opinion, are every bit as jaw-dropping as OpenAI’s comparable offerings. The battle between ChatGPT and Gemini will likely extend for many years. Up ahead, Veo and Sora are sure to battle for text-to-video dominance. And though I give the slight edge to OpenAI at this juncture, I acknowledge that the leader(s) in the AI race can change at any time.\nSince you can’t buy OpenAI shares on the public markets, I’d argue GOOG stock is the next best thing. Even if OpenAI stock were live on the Nasdaq exchange, it’d probably be markedly more expensive than Alphabet anyway.\nOn the date of publication, Joey Frenette held shares of Apple and Alphabet (Class C). The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nJoey Frenette is a seasoned investment writer specializing in technology and consumer stocks. Contributing to the Motley Fool Canada, TipRanks, and Barchart, Joey excels in spotting mispriced stocks with long-term growth potential in a fast-paced market.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/06/3-magnificent-7-stocks-to-buy-now-june-2024/.\n©2024 InvestorPlace Media, LLC","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"CCBot/2.0 (https://commoncrawl.org/faq/)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2444483031"}