2. Alphabet Alphabet is a promising Magnificent Seven stock for several reasons. Chrome browser and Google search engine lead their markets. The large consumer base for these products draws advertisers. In 2023, Alphabet's Google leads digital advertising with 39% market share. Meta Platforms-owned Facebook trailed with 18%.
Alphabet's digital advertising dominance drove Q4 revenue to double-digits to $86.3 billion from $76 billion. Perhaps more crucially, ad revenue fuels the company's expansion beyond advertising and AI initiatives. The company's Google Cloud business is successful. This division's Q4 revenue was $9.2 billion, up 26% year over year.
Alphabet augments its products with AI. The corporation is integrating the technology into its search engine, Google Cloud, and advertising activities, which contributed $65.5 billion to Q4 sales of $86.3 billion. Wall Street expects Alphabet stock to average $165. All these criteria make Alphabet shares a buy.
3. Tesla Several characteristics make Tesla a good Magnificent Seven stock. The stock is significantly below its 52-week high of $299.29 from last summer, offering a buying opportunity
The carmaker said 2024 would have lower vehicle sales growth than 2023, lowering shares. Tesla's plants are prepping for its 2025 car production, which caused this year's volume reduction.
The next generation of Tesla automobiles is a major reason to buy stock. EV sales are successful for the corporation. Electric cars first led the global sales chart last year with Tesla's Model Y. The popularity of Tesla boosted 2023 car sales to $82.4 billion, up 15%. EV competition forced the company to decrease vehicle prices, yet revenue rose by double digits.
Tesla invests for another purpose. Unlike Ford Motor Company, the company doesn't just build cars. Tesla handles everything about car ownership. This covers car design and manufacture, dealership sales, repairs and maintenance, and global Supercharger fuelling.
Thus, Tesla is disrupting gas-powered vehicle business paradigms. The company's 2023 sales rose 19% to $96.8 billion thanks to this strategy. The consensus Wall Street price objective for Tesla shares is $205. For long-term investors, Tesla shares are a buy due to its vehicle development plans.
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