Megacap technology stocks reascended the throne in 2023 after a debilitating 2022 left some investors sour on the outlook for the industry. The stocks are really going to have to show what the next big thing is." Even as it outperformed the market, the e-commerce giant's gains were overshadowed by other large megacaps flaunting their latest AI innovations, with some worrying Amazon may be falling behind on AI technology . Semiconductor companies Intel , Broadcom and Lam Research also look attractive even if Mag 7 stocks maintain their leadership position as AI proliferates, Woods said. "It's a story that is just starting to play out and we're just going to build on it going forward," he said.

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