With bumpy markets, investors may want to consider safer stocks, especially those that can withstand any market conditions. That includes the following Magnificent 7 stocks, which investors may want to consider buying today.
Magnificent 7 Stocks: Nvidia (NVDA)
One of my favorite stocks to own is Nvidia (NASDAQ:NVDA) — a top choice for several reasons.
For one, the company has taken the world by storm and is leading the artificial intelligence race. Two, NVDA shows no signs of slowing down, even after its stock jumped 194% year to date, and 500% higher over the last five years. Even now, I still believe there is a further upside potential in the name. Three, Nvidia recently posted impressive earnings and guidance. Plus, its growth in the data center market generated $10.3 billion.
Helping, Citigroup analysts expect Nvidia to control over 90% of the AI chip market since it holds superiority in the space. Further, the company is also launching new products to maintain its market dominance and beat its rivals.
With a wide product offering and sizable revenues, Microsoft (NASDAQ:MSFT) is one of the top Magnificent 7 stocks to own. It’s also investing heavily in artificial intelligence and is always working to launch new products and services, including its Azure segment, which has been showing strong growth.
At $317, the stock isn’t cheap but it is one stock that will continue to reward you in the years to come. It also enjoys a dividend yield of 0.94%. If you compare the stock with other tech giants, Microsoft brings much more stability and steady growth. It is already valued at $2.4 trillion and it is only getting bigger.
Magnificent 7 Stocks: Alphabet (GOOG) (GOOGL)
Tech giant Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) has become a household name thanks to its Google search engine. Plus, it’s hard to imagine the world without Google. It’s also expanding its market share in the cloud computing segment and investing in AI and self-driving cars.
Alphabet is also a well-diversified business that continues to grow its market share and enjoy higher revenue. Helping, Alphabet is getting set to release its large language model, Gemini, and will take on OpenAI. All of which could contribute significantly to the company’s revenue in the next few years. The company also generates revenue from Google Pixel and it could become a large business in the next five years. The stock is up 47% year to date and trading at $131 right now.
Meta Platforms (NASDAQ:META) has seen high volatility since the start of the year. However, I believe the worst is over. Especially after it dropped to $88 late last year, only to bounce back to $300 a share. Helping, the company saw an 11% year-over-year rise in revenue in the second quarter. Net income was also up 16%. And, while it’s still burning cash with metaverse ambitions, the stock is still attractive — thanks in large part to the AI boom. Year to date, META is up about 141%. From here, I believe the current momentum will continue. As one of the Magnificent 7 stocks, Meta deserves a place in your portfolio.
Magnificent 7 Stocks: Amazon (AMZN)
E-commerce giant Amazon (NASDAQ:AMZN) is a solid investment. Its global presence and the effectiveness of AI technology will only take the stock higher. AMZN stock is up 52% year to date and is currently exchanging hands for $131. The company has already been using AI for customer product recommendations, logistics, and delivery. It’s also benefiting from Amazon Web Services which is a major contributor to the revenue. Also, in its most recent quarter, it saw $10.7 billion in revenue from the advertising business. Even better, the company invested $4 billion in AI firm, Anthropic, which will ensure that Amazon remains a big part of the AI race.
Apple (NASDAQ:AAPL) leads the Magnificent 7 pack. Granted, in its most recent quarter, the company saw its revenue fall by 1% year over year but it may only be a temporary setback on consumer spending in a tough economic climate. Still, Apple has seen a steady rise in its services revenue which was up 8% year over year. It also saw its profits rise to $19.8 billion. In addition, Apple just launched new products — including the newest iPhone, which could see higher demand this holiday season. While the stock has been volatile lately, it remains a top Magnificent 7 stock to buy and hold.
Magnificent 7 Stocks: Tesla (TSLA)
Tesla (NASDAQ:TSLA) is another solid stock to add to your portfolio. A leader in the electric vehicle industry, there’s big growth ahead. Especially with global leaders demanding millions of EVs by 2030. Even President Biden wants 50% of all new auto sales to be electric by then, too. All of which could fuel Tesla’s stock even more. The stock is up 148% year to date and its financials are proof that the company playing hardball.
Tesla also just saw a 47% year-over-year increase in revenue and a 19% year-over-year increase in net income. Its EPS came in at $0.78. The company understands the market potential and has resorted to price cuts to keep up with the inflation and changing consumer behavior. However, it remains at the top today. This is another must-own Magnificent 7 stock to buy and hold today.
On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.