What do you think about the Magnificent 7?

Last year was a good year for the Magnificent 7 stocks: Microsoft (MSFT), Amazon (AMZN), Meta (META), Apple (AAPL), Google parent Alphabet (GOOGL), Nvidia (NVDA), and Tesla (TSLA)

They contributed to the S&P 500's 24% gain last year. Without their inclusion, the benchmark index would have only been sitting at 8%.

For 2024, Nvidia remains the leader with returns of 93% this year, with Meta in the second spot with a 42% return. However, there has been some recent discussion about these stocks, with some doing better than others this year.

In fact, in a survey conducted by Opinium*, 27% of retail investors plan to take their profits or scale back future investments in the big 7 tech stocks.

Additionally, over half of respondents plan to rebalance portfolios this year in anticipation of expected rate cuts, with the most common moves being to increase equities and reduce cash holdings.

JP Morgan analysts also spoke on the subject of rebalancing & the Mag 7, with their ending quote in a recent report: