A new cohort of stocks may be emerging to steal the crown from the "Magnificent Seven," according to Evercore ISI. While the Magnificent Seven tech titans have boosted stocks to record highs, signs have already emerged that not all of those names will continue their ascent. By far, the two laggard stocks in the Magnificent Seven basket this year have been Apple and Tesla , plagued by weakened sales in the China market and down 10% and 28% this year, respectively.
This basket of stocks includes several names from the Magnificent Seven — and could grow to bring in additional stocks, Mahaney said. Mahaney included Magnificent Seven members Amazon , Alphabet and Meta in his new Electric 11 lineup. Amazon and Meta have respectively gained 16% and 40% this year, while shares of Alphabet are largely unchanged. On Monday , Morgan Stanley reiterated Meta at an overweight rating, while Goldman Sachs stood by its buy rating for Amazon.
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