Investors piled into several Magnificent Seven stocks this week but only one of them made it to a new high. Meanwhile, Nvidia (NVDA) rival Broadcom (AVGO) surged over 20% and hit its all-time high after its quarterly results came out late Thursday. And Meta Platforms (META) is in a buy zone.
The AI chip leader also topped the $1 trillion market cap — a crown few stocks have. Nvidia (NVDA), Meta Platforms, Alphabet (GOOGL), Apple (AAPL), Microsoft (MSFT), Tesla (TSLA), Amazon.com (AMZN) and Warren Buffett’s Berkshire Hathaway (BRKB) have reached the $1 trillion club.
Are These Magnificent Seven Stocks A Buy Now?
Alphabet | Amazon | Apple | Meta | Microsoft | Nvidia | Tesla
Shares of Broadcom gapped up in strong volume on Friday. October-quarter sales of $14.05 billion and earnings of $1.42 per share were more or less in line with estimates of $1.39 per share on sales of $14.07 billion. From the prior year, earnings grew 28% while sales also rose 51%.
↑
X
What Are The Magnificent Seven Stocks?
Its sales outlook for the current quarter was just a little higher than views at $14.6 billion vs. $14.55 billion. Chief executive officer Hock Tan noted that Broadcom’s addressable market could be “$60 billion to $90 billion in fiscal 2027.”
At Friday’s high of 221.65, the stock had gained over 95% year to date. The AI chip stock ranks second in the semiconductor design group, according to IBD Stock Checkup.
Shares have broken out of a double-bottom base with a buy point of 185.05. The relative strength line is also at a new high.
Meta In Buy Zone After All-Time High
Meta hit its all-time high on Wednesday after the Facebook parent announced massive plans to build a $10 billion data center in Louisiana.
Shares fell after third quarter results were announced Oct. 30 but rebounded. The stock broke out of a flat base and are in a buy zone from a buy point of 602.95 to 633.10.
Artificial Intelligence News And AI Stocks To Watch
The social media giant holds a Composite Rating of 97 and EPS Rating of 96 with a Relative Strength Rating of 90. Meta ranks first in the internet content industry group.
Analysts expect profit to rise 46% in 2024 and 12% in 2025.
Outside Big Tech, Badger Meter (BMI) hit an all-time high of 239.11 on Thursday. On Tuesday, the stock broke out past a buy point of 229.32 from a cup-with-handle base. The relative strength line is near new highs, a distinction marked with a blue dot on its MarketSurge chart.
Badger makes flow measurement, quality control and other products to help water providers improve their services. It is the best-rated stock in IBD’s industrial machinery industry group.
Please follow VRamakrishnan on X/Twitter for more news on the stock market today.
YOU MAY ALSO LIKE:
IBD Live: Learn And Analyze Growth Stocks With The Pros
MarketSurge: Research, Charts, Data And Coaching All In One Place
The Four Pillars Of The IBD Methodology
Risk Management In The Stock Market: How Much Money To Invest
