Amidst market turbulence and shifting investor sentiments, certain stocks stand out as stalwarts, weathering both the storms of the market and the passage of time. These stocks, known as the “Magnificent Seven” or Mag 7, hail from industry titans that have earned formidable reputations, withstanding market fluctuations through consistent earnings, robust market presence, and strong brand equity. The stability and reliability of these stocks make them a favored choice for risk-averse investors seeking steady growth and income.
However, the very traits that make them desirable – size and maturity – can also limit their potential for astronomical growth, as experienced by nimbler, tech-savvy firms. In addition, their massive market capitalization renders them susceptible to external market forces – a double-edged sword for investors.
Yet, for those seeking long-term, stable growth, these Mag 7 stocks can provide a sturdy foundation in a well-diversified portfolio – the bedrock supporting a potentially rewarding investment strategy.
Mag 7 Stocks To Monitor This Earnings Season
Microsoft (MSFT Stock)
First on the radar is the venerable Microsoft Corporation (MSFT). This multinational technology behemoth, famous for its software suite including the Windows operating system and Office, is set to unveil its latest quarterly financial performance this week, after the U.S. stock market closes on Tuesday. Most impressively, last quarter saw Microsoft achieve an EPS of $2.99 per share, with revenue hitting $56.52 billion for Q1 2024. The company has estimated Q2 2024 revenue in the range of $60.40 billion to $61.40 billion.
Shares of Microsoft have soared by 9.51% since the year commenced, and as of Monday’s late morning trading, MSFT stock is up by 0.59%, currently at $406.30 a share.
Amazon (AMZN Stock)
Next up, we have the juggernaut Amazon.com, Inc. (AMZN), a multinational technology firm celebrated for its e-commerce platform. Set to unveil its performance for the fourth quarter of 2023 on Wednesday after the close of the U.S. stock market, Amazon had previously conquered Q4 2023 with an EPS of $0.85 and revenue of $143.08 billion.
While Amazon stock has risen by 6.14% since the year began, as of Monday’s late morning trading, AMZN stock is trading flat at $159.16 a share.