The "Magnificent Seven" is a group of tech stocks that delivered solid returns in 2023, propelling the S 500 index to greater heights.

But just because these giants outperformed in 2023 does not guarantee the same in 2024. For example, Tesla stock has had a tough time in 2024, down close to one-third from its 2023 high. So just buying this group of stocks and hoping for the momentum to continue is not a sure thing.

Fortunately, investors could consider other companies of similar business quality for their portfolio. Tencent Holdings Limited (OTC: TCEHY) is one of these companies. Here's a closer look at why that's the case. 

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Source Fool.com