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Good Stocks To Buy Right Now? 2 Magnificent 7 Stocks To Watch

Mag 7 stocks to watch in the stock market now.

good stocks to buy right now magnificent 7 stocks

The stock market is a platform where investors purchase and sell shares of companies with the goal of profiting from equity ownership. It acts as a barometer of the economic health of a sector, industry, or entire country. Among the various strategies employed by investors, focusing on the Magnificent 7 stocks is popular. These stocks, often considered as high-performing leaders within their respective industries, are sought after for their consistent growth and stability.

Investing in Magnificent 7 stocks offers the advantage of holding shares in well-established companies with a proven track record. These firms are typically large, financially robust, and have a history of weathering economic downturns more smoothly than smaller entities. This can provide investors with a sense of security and regular dividends. However, the downside includes high market expectations, which can inflate the share prices, potentially leading to lower yields on investment. Additionally, their large size might limit rapid growth, unlike smaller, more agile companies.

For those considering buying shares of Magnificent 7 companies, it’s essential to conduct thorough research and consider the broader market conditions. Analyzing market trends, staying updated on economic indicators, and understanding individual company performance are crucial steps in making informed investment decisions. On that note, here are two Magnificent 7 stocks to check out in the stock market today.

Mag 7 Stocks To Watch In April 2024

NVIDIA Corp. (NVDA Stock)

First up, NVIDIA Corporation (NVDA) is a leading technology company known for its powerful graphics processing units (GPUs) for the gaming and professional markets. Its products are also pivotal in driving advancements in artificial intelligence (AI) and deep learning.

Last month, NVIDIA announced the use of its digital human technologies by AI developers to create realistic avatars and characters for various applications. This was showcased at the GTC conference in San Jose. Technologies like NVIDIA Avatar Cloud Engine (ACE), NVIDIA NeMo™, and NVIDIA RTX™ enable the creation of digital humans capable of natural language interactions. Demonstrations by companies like Hippocratic AI and Inworld AI highlighted these capabilities. Which in turn, emphasizes NVIDIA’s role in enhancing digital realism through advanced AI tools.

Year-to-date, shares of NVDA stock are up by 79.98% so far. Moreover, during Tuesday morning’s trading session, NVIDIA stock opened lower by 0.51%, currently trading at $866.90 a share.

[Read More] 3 Dow Jones Stocks For Your April 2024 Watch List

Amazon.com (AMZN Stock)

Next, Amazon.com Inc. (AMZN) is one of the world’s largest e-commerce and cloud computing companies. Currently, Amazon encompasses a vast range of services including retail, computing, digital streaming, and artificial intelligence.

Last month, Amazon announced an extended collaboration with NVIDIA to advance generative AI innovation through AWS. This partnership will introduce NVIDIA’s new Blackwell GPU platform to AWS, enabling the launch of Amazon EC2 instances and NVIDIA DGX Cloud services designed to enhance the performance of building and running large language models (LLMs).

In 2024, shares of Amazon stock are up 23.99% year-to-date. While, during Tuesday morning’s trading action, AMZN stock opened slightly higher up 0.23%, trading at $185.61 a share.

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By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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