The stock market is a place where people buy and sell ownership in companies. It offers a way for investors to grow their money over time. Companies list their shares on exchanges, allowing public trading. The market’s performance reflects economic conditions and company health. However, investing carries risks, as stock prices can go up or down.
The “Magnificent 7” refers to seven large, influential tech companies. They’ve gained attention for their strong performance and market impact. These companies are leaders in areas like AI, cloud computing, and electric vehicles. Their stocks often move the entire market due to their size and popularity.
Investing in Magnificent 7 stocks can offer growth potential and exposure to innovation. These companies have strong financial positions and are at the forefront of tech trends. However, they can be expensive and may face increased regulatory scrutiny. Their high valuations might make them vulnerable to sharp price drops. It’s important to research thoroughly. That said, here are two Mag 7 stocks to watch in the stock market today.
Mag 7 Stocks To Invest In [Or Avoid] Right Now
- Tesla Inc. (NASDAQ: TSLA)
- Meta Platforms Inc. (NASDAQ: META)
Tesla (TSLA Stock)
Tesla Inc. (TSLA) is an American electric vehicle and clean energy company. It designs, manufactures, and sells electric cars, solar panels, and energy storage systems. Tesla is known for its innovation in automotive technology, particularly in electric powertrains and autonomous driving features.
Earlier this month, Tesla announced its second-quarter 2024 production and delivery numbers. They showed that they produced approximately 411,000 vehicles and delivered around 444,000. This includes 386,576 Model 3 and Model Y vehicles produced and 422,405 delivered. Additionally, Tesla deployed 9.4 GWh of energy storage products, its highest quarterly deployment yet. The company will release its financial results for the second quarter this week, on July 23, 2024, after the market closes.
Year-to-date, shares of Tesla stock are trading modestly higher by 0.49%. Meanwhile, on Monday morning, Tesla stock opened up 4.42% on the day so far, trading at $249.77 a share.
[Read More] 2 Healthcare Stocks For Your Mid-July 2024 Watchlist
Meta Platforms (META Stock)
Second, Meta Platforms Inc. (META), formerly known as Facebook, is a technology company focused on social networking and virtual reality. It operates popular social media platforms including Facebook, Instagram, and WhatsApp. Meta is also investing heavily in developing metaverse technologies, aiming to create immersive digital experiences.
At the start of this month, Meta announced when it will release its second quarter 2024 financial results. In detail, the tech giant is set to report its Q2 2024 financial results, on Wednesday, July 31, 2024, after the U.S. stock market closes. To recap, last quarter Meta announced it estimated Q2 revenues between $36.50 billion to $39.00 billion.
In 2024 thus far, shares of META stock are up 40.78% year-to-date. While, during Monday morning’s trading session, Meta Platform’s stock is trading green, up 2.23%, trading at $487.43 a share.
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!
