Rising to the Challenge: This Aspiring "Magnificent Seven" Stock Is One to Watch in 2024
The "Magnificent Seven" stocks have been leading the stock market higher over the last couple of years. Without them -- and the ongoing frenzy for artificial intelligence (AI) investments -- Wall Street wouldn't be enjoying an official bull run yet.
But this elite group doesn't come with a lifetime membership. Or, investors will eventually move on to a new market-moving club with a different set of members. The FANG and FAANG groupings used to be the gold standard, but Netflix dropped out while Apple, Tesla, Microsoft, and Nvidia (NASDAQ: NVDA) moved in. 60 years ago, there was the "Nifty Fifty." And the paragons of industry in the Dow Jones Industrial Average (DJINDICES: ^DJI) index are always on a rolling schedule -- the current Dow only has 17 names in common with the version you saw 20 years ago.
Image source: Getty Images.
Source Fool.com
