Brian Belski from BMO Capital Markets discusses how the current group of stocks known as the 'Magnificent Seven'—which includes top-performing tech companies—can be compared to the major consumer staples from the 1990s. He suggests that these stocks are becoming essential to investors’ portfolios, similar to how consumer staples were viewed in their time.
Given the comparison to consumer staples and the strong performance of the Magnificent Seven, these stocks are likely to maintain a positive trajectory as investors seek reliability in volatile markets.
The growing interest in these 'Magnificent Seven' stocks, characterized by high growth and market influence, indicates that they will attract significant investment, thus driving their prices higher.
With the ongoing digital transformation and AI advancements, stocks in the tech sector such as those included in the Magnificent Seven are expected to perform well, reflecting heightened demand.
Laffer Tengler CEO and CIO Nancy Tengler discusses investment opportunities and more on ‘Making Money.'
Oct 11, 2024, 2:24 AM
Taiwan’s government said that they had been accused of a breach of trust, but that their employer, Foxconn, had denied the company suffered any losses.
Oct 11, 2024, 12:20 AM
The Taiwanese government suggested the detentions may be a case of "abuse of power" by Chinese police.