Megacap Tech Stocks: The group - comprised of Apple Inc., Microsoft Corp., Nvidia Corp., Alphabet Inc., Amazon.com Inc., Meta Platforms Inc. and Tesla Inc. - doubled in value in 2023, outperforming the broader Nasdaq 100 Index s 54% rise. The majority extended gains this year - with the exception of Tesla and Apple.
The group - comprised of Apple Inc., Microsoft Corp., Nvidia Corp., Alphabet Inc., Amazon.com Inc., Meta Platforms Inc. and Tesla Inc. - doubled in value in 2023, outperforming the broader Nasdaq 100 Index s 54% rise. The majority extended gains this year - with the exception of Tesla and Apple.
Shares around the world have risen sharply in the last two months of the year as benchmark bond yields fell on expectations of central bank rate cuts in 2024.
Megacap Tech Stocks: Microsoft, Alphabet, Amazon and Meta Platforms - four of the seven U.S. megacap stocks whose gains have powered the S&P 500 higher this year while the rest of the index has lagged - have earnings due this week. Apple and Nvidia are set to report next month.
Megacap Tech Stocks: The so-called Magnificent Seven group of megacap stocks -Apple, Microsoft, Amazon.com, Alphabet, Nvidia, Tesla, and Meta Platforms - have fallen 7% over the last two months, compared with a 3% decline in the broad S&P 500, as Treasury yields jumped more than 60 basis points to 16-year highs.