The so-called "Magnificent Seven" were among the hottest stocks last year, but one wealth manager says they are "wildly overvalued" and has his sights elsewhere.
The Magnificent Seven comprises Alphabet , Amazon , Apple , Meta Platforms , Microsoft , Nvidia and Tesla , which continue to be in the spotlight thanks to the buzz around artificial intelligence.
Other global stocks Global stocks Dennison is betting on include Fresenius Medical Care , a German health-care company, and Kazatomprom, a Kazakhstan-headquartered producer of uranium.
"It is a top position in many pension portfolios and has become a value stock because of the strong Swiss Franc," he said.
Value stocks are often cheaper than so-called growth stocks and typically trade at a lower price than what the company's performance indicates.
Persons:
Tariq Dennison, Dennison, he's, Russell, Chow, Fook, Tencent, Goldman Sachs, Kazatomprom
Organizations:
GFM Asset Management, CNBC Pro, Apple, Microsoft, Nvidia, Tesla, Nasdaq, Value, Avantis U.S, Abercrombie, Fitch, Cadence Bank, Commercial Metals, KB, Jackson Financial, Warrior, MTR Corp, Global, Dennison, Fresenius, London Stock Exchanges, U.S, Nestle, Six Swiss Exchange
Locations:
U.S, China, Hong Kong, Kazakhstan, Swiss