Better "Magnificent Seven" Buy: Nvidia or Tesla
With the markets hitting new highs to start 2024, it's safe to say a new bull market is here, with top tech stocks leading the charge. The Roundhill Magnificent Seven ETF returned 51% over the last 12 months, beating the growth-centered Nasdaq Composite's 32% return.
Out of this elite group of tech leaders, Nvidia (NASDAQ: NVDA) and (NASDAQ: TSLA) delivered incredible returns to investors over the last decade. Let's compare both companies' near-term prospects and valuations to determine which is the more timely buy right now.
The artificial intelligence (AI) chip leader just reported another blockbuster quarter to cap off an extraordinary year of growth. For fiscal 2024, Nvidia said revenue grew 126% to $61 billion. Data center revenue more than tripled, as management sees a "tipping point of new computing era."
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 248 € shows a very positive potential of 58.51% compared to the current price of 156.46 € for Tesla Inc.
