The "Magnificent Seven" moniker was coined in 2023 to describe a group of seven of the world's largest technology stocks. They delivered an average return of 112% last year, which crushed the 24% return of the benchmark S 500 index. The seven stocks are:

Holding the Magnificent Seven worked like a charm last year, but the group has splintered in the early stages of 2024. Tesla is down 34% already this year, with Apple sinking 7%.

The Magnificent Seven companies operate at the forefront of the technology sector, and each of them is developing artificial intelligence (AI) in a unique way. Therefore, abandoning the group probably isn't a good idea over the long-term despite the rocky start to 2024 for Tesla and Apple. However, investors might benefit from a slight change in strategy.

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Source Fool.com