Big Tech's Bumpy Ride: Select Favorites Emerging from Stock Slump
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The "Magnificent Seven" are 7 of the world's largest tech companies - Apple, Microsoft, Amazon, Nvidia, Tesla, Alphabet, and Meta - that delivered huge returns in 2022.
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However, some of those stocks, like Tesla and Apple, have struggled in early 2023, so investors may need to be more selective.
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Alphabet and Meta remain attractive buys due to leadership in AI and cost cutting driving profits higher.
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Alphabet's Gemini AI chatbot outperforms competitors and the company trades at a P/E ratio 30% below market.
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Meta is deploying AI across its platforms, cutting costs, and earnings are soaring, yet the stock trades in line with the market despite expected 34% profit growth.