I've Covered the "Magnificent Seven" Stocks Ever Since the Term Was Coined. Only 4 of Them Still Deserve the Title.
New technologies, competition, and the simple passage of time are working against yesteryear's biggest winners.
The term "Magnificent Seven" was coined just three years ago by Bank of America analyst Michael Hartnett in 2023. It refers to Apple, Amazon, Alphabet, Meta Platforms, Microsoft, Nvidia, and Tesla - stocks that outperformed during the COVID-19 pandemic and are a nod to the 1960 film and its 2016 remake. However, as the saying goes, nothing lasts forever.
While all seven stocks still hold bullish potential, only four of them currently merit the "magnificent" title. The other three, though, do not quite make the cut. It's important to note that this doesn't mean these stocks should be avoided. They may still perform brilliantly in the future.
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