In the past year, investors have been flocking to the “Magnificent Seven” stocks for exceptional returns, and it’s easy to see why.
Leading the pack are mega-cap tech giants like Nvidia, Microsoft, Alphabet, and Meta Platforms, all of which have outperformed the S&P 500 and Nasdaq Composite in the last 12 months. The surge in interest in artificial intelligence (AI) has played a significant role in driving these companies’ success.
Despite the stellar performance of these companies, I believe there is one standout member of the Magnificent Seven that stands out as a top choice for long-term investors.
Amazon, the e-commerce and cloud computing behemoth (NASDAQ: AMZN), has lagged behind the Nasdaq in the past year, delivering returns in line with the S&P 500.
With Amazon’s stock down approximately 14% in the last month, now presents a compelling opportunity to capitalize on the dip.
Let’s delve into how Amazon is quietly revolutionizing the AI landscape and explore why the current moment appears to be a promising time to seize this opportunity…
2024-08-17 10:03:00
Original source: finance.yahoo.com