Just seven stocks have fueled much of the market's rally: Amazon, Apple, Alphabet, Microsoft, Meta, Nvidia, and Tesla.
Move over, Magnificent SevenAfter an incredible two-year rally, it's may be difficult to see the Magnificent Seven cooling off.
For context, the Magnificent Seven outperformed the rest of the S&P 500 by 22% so far this year and 63% in 2023.
"And so our analysis is there's potential for multiple expansion in those stocks," Kostin added.
To find companies likely to see enhanced revenues from AI, Goldman Sachs analyzed recent messaging from company management regarding AI rollout.
Persons:
Goldman Sachs, Tesla, David Kostin, Kostin, That's, Goldman
Organizations:
Microsoft, Meta, Nvidia, Digital Realty