If I Could Buy Only 1 "Magnificent Seven" Stock Over the Next 10 Years, This Would Be It (Hint: It's Not Nvidia)
Nvidia has been the top-performing stock among the "Magnificent Seven" over the last few years, but I see another megacap AI stock as the better long-term buy.
I use Nov. 30, 2022, as the unofficial start of the artificial intelligence (AI) revolution. This is the day that OpenAI released ChatGPT to the general public.
Since ChatGPT became part of mainstream culture, the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) indexes have notched multiple highs -- thanks in large part to megacap technology stocks witnessing parabolic rises. Among the biggest gainers in the capital markets have been the "Magnificent Seven" stocks.
Within that cohort, Nvidia and Meta Platforms have been the top performers by a mile -- gaining 601% and 409%, respectively, as of this writing (March 17).
