Beyond the Magnificent 7: Morgan Stanley fund manager says diversify with these 2 stocks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 51%
  • Publisher: 72%

NVIDIA Corp News

Costco Wholesale Corp,Walmart Inc,Thermo Fisher Scientific Inc

A 'troublesome' focus on tech stocks has led one portfolio manager to recommend diversifying, naming two stocks in particular.

Big Tech has been a closely watched theme over the past year, with investors piling into AI poster child Nvidia and the other so-called "Magnificent Seven" stocks: Alphabet , Amazon , Apple , Meta , Microsoft and Tesla . But this heavy focus on just a few stocks has led one portfolio manager to urge investors to diversify, naming two stocks he thinks look particularly attractive. "I would say the concentration is troublesome, in our opinion, and it's something to watch.

and offers its services at a membership fee of $55 per year, or $110 for a higher tier. Its rivals include Costco Wholesale and the Walmart -owned Sam's Club. Shares in the membership services company are up around 32.7% year-to-date and nearly 41% in the last 12 months. According to FactSet data, of 24 analysts covering the stock, 12 give it a buy or overweight rating, 11 have a hold rating and one has a sell rating. Their average price target is $86.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dell stock gains as Morgan Stanley ups target on AI business momentumDell stock gains as Morgan Stanley ups target on AI business momentum
Source: Investingcom - 🏆 450. / 53 Read more »

Morgan Stanley's Latest Insights: Strong Earnings Beat and Stock PerformanceMorgan Stanley's Latest Insights: Strong Earnings Beat and Stock Performance
Source: Investingcom - 🏆 450. / 53 Read more »