'Magnificent Seven' Tech Stocks Set to Dominate 2024

Nvidia, Alphabet, and Microsoft Lead in AI Innovation and Attract Billionaire Investors

Nvidia and Alphabet are identified as two of the 'Magnificent Seven' tech stocks that could outperform the Nasdaq in 2024, due to their dominance in the AI market.
Nvidia's revenue climbed 206% year over year in the third quarter of fiscal 2024, largely due to a spike in AI graphic processing unit sales.
Alphabet has ramped up its expansion into AI, unveiling its highly anticipated AI model, Gemini, in December 2023.
Microsoft, Alphabet, and Meta Platforms are among the 'Magnificent Seven' stocks that hedge fund billionaires were investing in towards the end of 2023.
Microsoft's Azure cloud results were buoyed by AI systems like Copilot, with revenue growing 29% year over year in its fiscal 2024 first quarter.