How you should trade the ‘Magnificent 7’ tech stocks in order to beat the market, according to top strategist

Gains from the so-called 'Magnificent 7' stocks and the S & P 500 haven't been as sweet as expected in the third quarter. After a strong outperformance to start the year, the S & P 500 is flat for the quarter, while names like Apple and Microsoft are headed for quarterly losses. But there's still a way to play the group, comprised of Nvidia , Meta Platforms , Amazon , Microsoft, Apple, Alphabet and Tesla , according to Trivariate Research's Adam Parker.

"Our advice has been and remains to stay market-weight this group, as low idiosyncratic risk, lack of replicability, and massive coverage make it challenging to generate sustained alpha," the former chief U.S. equity strategist at Morgan Stanley said in a Sunday note to Trivariate clients.

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