Given that most of the "Magnificent Seven" has surpassed consensus expectations, Goldman Sachs said the group of big technology companies could once again exceed the broader market's gains this year.
So far, six of the Magnificent Seven — all but blockbuster chipmaker Nvidia — have reported fourth-quarter results.
Each of the companies, with the exception of electric vehicle maker Tesla , exceeded consensus sales forecasts, and collectively posted 14% year-over-year quarterly sales growth, Kostin noted.
Analysts also expect the Magnificent Seven to outperform in margin expansion over the next three years, compared with the rest of the market, he added.
Shares of the Magnificent Seven raced ahead of the broader market last year.
Persons:
Goldman Sachs, David Kostin, Kostin, Nvidia —, Goldman, Nvidia's
Organizations:
Nvidia, DoJ, FTC, Analysts, Tech, Apple, Microsoft