Tech's Magnificent Seven Led 2023 Rally But Face More Muted Outlook If Soft Landing Unfolds
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The "Magnificent Seven" tech stocks fueled the market's gains in 2023, but their outlook is more muted if the economy achieves a soft landing in 2024.
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Investors are now broadening their horizons beyond big tech to smaller tech names and other sectors as recession fears fade.
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Microsoft and Alphabet are well-positioned to capitalize on AI advancements and monetize the technology.
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Chipmaker Nvidia has been the top S&P 500 performer this year on booming AI demand, but needs to execute amid high expectations.
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Tesla and Meta have more room to run with shares well below 2021 highs, but face some uncertainty around demand issues.