Technology giants Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and Meta Platforms (NASDAQ: META) are pretty similar at their core. Both companies dominate their respective fields by offering superior products for free. Both companies make tons of money by selling advertising that users see as they browse the two companies' platforms.
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The "Magnificent Seven" stocks have been the darlings of Wall Street given their strong performances over the past couple of years. The group is made up of leading technology growth stocks that have helped power the market's bull run. The stocks in this exclusive club include chip giant Nvidia, iPhone maker Apple, search leader Alphabet, social media powerhouse Meta Platforms, electric vehicle.
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Investors could do worse than investing in the so-called "Magnificent Seven" stocks. The collective gained 111%, on average, in 2023, thrashing the 24% gains of the S&P 500. The group has continued its winning ways, rising 22% on average so far this year, nearly double the 11% increase of the S&P 500 (as of this writing).
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