Published on 13 Dec 2023 on Zacks via Yahoo Finance

3 Tech Stocks That Have Crushed "Magnificent Seven" in 2023

In the current investment landscape, the focus has shifted from the FANG stocks, and a new set of influential stocks, known as the Magnificent Seven Stocks, has emerged. These stocks include Alphabet GOOGL, Apple (AAPL), Amazon AMZN, Meta Platforms META, Microsoft MSFT, Nvidia NVDA and Tesla TSLA. These companies are considered the new leaders in the stock market.

There is a pureplay ETF called Roundhill Magnificent Seven ETF MAGS on this theme. The ETF has surged more than 30% this year. Individually, Apple, Alphabet and Microsoft are up more than 50% each, Meta shares are up about 165%, Amazon has gained 70%, Nvidia has skyrocketed about 233% and Tesla is up nearly 118% this year.

But there are three tech stocks — Vertiv VRT, IonQ IONQ and Applied Optoelectronics AAOI — that have beaten even the best of Magnificent Seven, i.e., Nvidia.