Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the early part of the second quarter of 2024 showed a big divergence of returns.
Nvidia stock was edging lower Tuesday despite positive Wall Street forecasts rolling in for the chip maker’s coming earnings. Nvidia shares slipped 0.3% to $901.00 in early trading. Nvidia could beat its revenue guidance of $24 billion for the quarter by around $2 billion, and guide for a further $2 billion in revenue growth in the current quarter according to Melius Research analyst Ben Reitzes.
The Dow Jones rose Tuesday on the stock market today on hot inflation data. Fed Chair Jerome Powell is next. GME stock rocketed 112%.