Gains from the so-called 'Magnificent 7' stocks and the S & P 500 haven't been as sweet as expected in the third quarter.
After a strong outperformance to start the year, the S & P 500 is flat for the quarter, while names like Apple and Microsoft are headed for quarterly losses.
But there's still a way to play the group, comprised of Nvidia , Meta Platforms , Amazon , Microsoft, Apple, Alphabet and Tesla , according to Trivariate Research's Adam Parker.
Parker expects the Big 7 stocks to continue faring well even if recent inflationary concerns endure, noting that the group is seen as including the prime beneficiaries of the widespread application of artificial intelligence and has seen better earnings revisions than other areas of the market.
— CNBC's Michael Bloom contributed reporting
Persons:
there's, Trivariate Research's Adam Parker, Morgan Stanley, Parker, — CNBC's Michael Bloom
Organizations:
Apple, Microsoft, Nvidia, Meta