Mag 7 stocks, often referred to as the “Magnificent Seven,” are a group of stocks representing large, dominant companies in various industries. These stocks are characterized by their substantial market capitalization, consistent financial performance, and strong brand recognition. Typically, Mag 7 companies have a long history of profitability and are considered leaders in their respective sectors. They are known for their stability and are often seen as safe investment choices during uncertain market conditions.
Investing in Mag 7 stocks comes with several advantages. These stocks are generally less volatile and provide a sense of security due to the companies’ established market positions and consistent performance. They can be a reliable source of dividends, appealing to income-focused investors. However, there are also disadvantages. The size and maturity of these companies often mean slower growth potential compared to emerging, high-growth firms. Additionally, their large size might limit quick adaptation to rapidly changing market trends.
For investors, Mag 7 stocks can be a cornerstone for a stable, long-term investment portfolio. Yet, it’s important to balance these investments with other assets to achieve growth. Investors should also stay informed about industry-specific risks and global economic factors that might affect these large companies. Keeping this in mind, here are two Mag 7 stocks to check out in the stock market today.
Mag 7 Stocks To Watch Now
- Alphabet Inc. (NASDAQ: GOOGL)
- Meta Platforms Inc. (NASDAQ: META)
Alphabet (GOOGL Stock)
To begin, Alphabet Inc. (GOOGL) is the parent company of Google, a multinational conglomerate that has significantly shaped the digital landscape. Today, Alphabet encompasses a range of subsidiaries, including YouTube, and Android. Additionally, Alphabet also engages in various sectors beyond internet services. This includes self-driving cars, health technology, and innovative technology research.
Back in October, Alphabet announced a beat for its Q3 2023 financial results. Diving in, Alphabet reported earnings of $1.55 per share, along with revenue of $76.69 billion. This is versus analysts’ consensus estimates for the quarter which were earnings of $1.45 per share, on revenue estimates of $75.91 billion. Moreover, revenue increased by 11% compared to the same period, the prior year.
Since the start of the year, shares of GOOGL have moved higher by 6.41%. Meanwhile, during Monday morning’s trading session, Alphabet’s stock is trading slightly higher off the open by 0.55% at $147.18 per share.
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Meta Platforms (META Stock)
Next, Meta Platforms Inc. (META) is a technology conglomerate focusing on building a range of social media and communication platforms. These include Facebook, Instagram, WhatsApp, and Oculus, among others. Today, Meta has evolved into a global entity influencing social interaction, digital marketing, and virtual reality.
This month, Meta announced the day and time for its fourth quarter and full year 2023 financial results. In detail, the company will report its Q4 2023 and full year 2023 financial results on Thursday, February 1, 2024, after the U.S. stock market closes. To recap, last quarter, Meta reported an EPS of $4.39 per share, with revenue of $34.15 billion.
In 2024 so far, shares of META stock have increased by 11.03% year-to-date. While, during Monday morning’s trading session, Meta stock is trading modestly higher by 0.32% at $384.66 a share.
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