Recently, the three major stock indexes have reached new record highs. While the overall market has shown strength, it is the “Magnificent Seven” stocks that are responsible for the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite hitting new peaks.
The Magnificent Seven are the top seven influential companies in America. These components are ranked by market cap:
Image source: Getty Images.
These companies have outperformed the S&P 500 in the past decade and have strong competitive advantages. For example:
Nvidia dominates the AI-accelerated enterprise data centers with over 90% market share in graphics processing units.
Amazon leads in U.S. e-commerce retail market share and global cloud infrastructure services.
2024-04-22 04:21:00
Originally posted on finance.yahoo.com