Mag7 Valuations: The rise in interest rates during the first seven months of 2023 should have punished growth stocks, yet technology — and especially artificial intelligence (AI) themes — have been the major winners in 2023, according to the BofA research.
So is the tech sector, and what is now becoming known as the Mag7 stocks, entering bubble territory? Let’s take a closer look at how those Mag7 stocks have performed over the year:
Nvidia (NASDAQ:NVDA) is up 219% to date
Apple (NASDAQ:AAPL) is up 49%
Amazon (NASDAQ:AMZN) is up 74%
Alphabet (NASDAQ:GOOGL) is up 51%
Meta Platforms (NASDAQ:META) is up 170%
Microsoft (NASDAQ:MSFT) is up 55%
Tesla (NASDAQ:TLSA) is up 95%
⚠️ Trading tips: looking at AMZN calls above 148.57 and puts under 147 after Fed chair announcement on Wednesday after 2:30pm. Do we continue the consolidation with Jerome or have to wait until Santa comes to the rescue?
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AMZN is the future of e-commerce, AWS, healthcare, entertainment (AMZN music, AMZN prime video), AI (bedrock), robotics, advertising, home internet (soon) grocery, ect. Load up now or live with regret. 5T market cap within 3 years.
Amazon running up. Still undervalued.
Meantime, Johnny and Jed the Spam bot's lunch is this.
Yes 👍