Image Source: The Super Seven (or Magnificent Seven as some economists call them) made the financial headlines several times this year. Obviously, this article is not about the famous 1960s western starring Charles Bronson, Steve McQueen, James Coburn, and many more Hollywood stars.Nowadays, the Super Seven is a group of seven tech companies that share a big part of the tech market and will likely continue to dominate the industry in 2024. The Super Seven group consists of Amazon, Meta, Microsoft, Nvidia, Tesla, Alphabet and Apple. It should be noted that the Super Seven recorded a 74% rise in combined value during 2023.In this article, we will review the performance of each of the Super Seven companies that may help you understand why they are “the talk of the town.”Amazon (AMZN)Amazon.com demonstrated robust financial performance in 2023. In the third quarter ending September 30, 2023, the company reported a , reaching $143.1 billion. This followed an 11% growth in net sales during the second quarter, amounting to a noteworthy uptick in overall revenue.Amazon’s profits nearly tripled, showcasing its financial strength and dominance in the market. Market analysts have been optimistic about Amazon’s performance, with stock forecasts predicting positive outcomes for the company in 2024. Although Amazon is a key player in the global e-commerce and technology landscape, layoffs due to restructuring and strikes with personnel demanding pay rises showed that Amazon’s senior management may face new challenges in 2024.Meta (META)Meta Platforms, formerly known as Facebook, exhibited strong financial performance in 2023. The company reported a robust third quarter with a 23% increase in revenue, marking its fastest growth rate since 2021. , released on October 25, 2023, showcased a positive financial outlook, exceeding expectations. The implementation of cost-cutting measures contributed to Meta’s record-breaking year, boosting its stock performance.Microsoft (MSFT)In 2023, Microsoft has experienced positive and negative facets. On the positive side, the company demonstrated resilience, with its stock rising approximately 40%, marking a successful year of growth. Microsoft’s commitment to environmental sustainability, as outlined in its 2023 Annual Report, reflects a notable initiative.However, there are concerns over potential future impacts of regulatory fears on the stock. The interplay between positive market sentiment and investor confidence is highlighted as a key factor influencing Microsoft’s stock prices. The upcoming earnings report raises anticipation, with questions about Microsoft’s ability to surpass estimates.Nvidia (NVDA)Nvidia’s 2023 performance has surpassed expectations on the back of the AI boom and the continuing production of advanced hardware. Despite concerns about the high cost of the GeForce RTX 4060 GPU, there are positive aspects highlighted, such as its notable features and benchmark performance.Nvidia managed to defy expectations, reporting a , surprising Wall Street positively. The AI sector holds promise for Nvidia, with a positive valuation story reflecting optimism about continued success.Tesla (TSLA)In 2023, Tesla continued to dominate the electric vehicle market with the Model Y Performance receiving acclaim for its impressive speed and zero emissions. Positive aspects include Tesla’s innovation and market leadership, boosted by the enthusiastic reception of the Model 3 Performance.However, challenges persist, with concerns about high pricing, long charging times, potential reliability issues, and limited availability. Customer experiences occasionally highlight a lack of communication from Tesla. Despite these challenges, Tesla’s narrative remains dynamic, as highlighted during the earnings call in November 2023.Alphabet (GOOGL)In 2023, Alphabet, Google’s parent company, exhibited a mixed performance. Positive highlights included an 11% increase in revenue for the quarter ending March 31, 2023, reaching new heights under CEO Sundar Pichai. However, Q3 2023 saw Alphabet’s shares drop, with a cloud miss overshadowing overall better-than-expected results, revealing potential vulnerabilities in the company’s diverse portfolio.Despite fluctuations, analysts expressed confidence in Alphabet’s positive trajectory, supported by a 51% stock increase in 2023. The year showcased the dynamic nature of Google Alphabet as it tries to adapt to challenges in the evolving tech landscape.Apple (AAPL)In 2023, Apple faced a blend of challenges and opportunities. At the beginning of the year, a report by Apple indicated marking its first year-over-year sales decline since 2019. However, analysts from Morgan Stanley emphasized Apple’s long-term positives, maintaining a buy rating despite the earnings miss. In November, Apple announced that it during July, August, and September, down 1% from the same quarter last year. Despite the challenges, Apple remained a pivotal player in the tech industry, with ongoing discussions about its strategies and potential for growth.Trading the Super Seven As A Beginner TraderIt is true that the Super Seven, or Magnificent Seven, companies as some analysts like to call them, have performed unexpectedly well in the current financial environment when borrowing costs have reached unprecedented levels. No doubt, beginner traders have been exposed to numerous news updates regarding the Super Seven companies that have grown considerably in 2023.However, beginner traders should always remember that past performance is not an indicator of future results. Therefore, they should invest some time in learning how trading works, and which pitfalls should be avoided when executing a trade. A way to do that is by reading and watching educational materials provided by brokers such as webinars, articles, guides, e-books, etc., that can be found in abundance and many times for free.Also, beginner traders should not ignore using risk management tools such as the stop loss and take profit orders. When utilized correctly, risk management tools can save you valuable funds when markets move against your plans. Beginner traders should familiarize themselves with the trading platforms they use and any trading tools provided.More By This Author:Warner Bros. & Paramount Merger Talks: What To KnowUK Inflation Falls To 3.9%, Hits 28-Month LowBank Of Japan Keeps Interest Rates And Yield Curve Policy On Hold
