--- title: Forget FAANG, Meet the 'Magnificent Seven' Stocks Surging in 2023 description: Is the term FAANG outdated? Meet the new 'Magnificent Seven' tech stocks investors love, including Apple, Microsoft, Nvidia and Alphabet. authors: - name: Mallika Mitra role: Contributing Editor url: https://money.com/author/mallika-mitra/ bio: Mallika Mitra is a contributing editor for Money, based in Chicago. She has covered investing and retirement for seven years and her work has appeared in CNBC, Bloomberg, Kiplinger, AARP, Barron’s, Bankrate, The Daily Upside, ETF.com, The Bond Buyer, PLANADVISER, PLANSPONSOR and Investopedia. education: Craig Newmark Graduate School of Journalism at CUNY Kalamazoo College at_money_since: 2020 articles: 395 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - CNBC - Bloomberg - Kiplinger - Barron's - Bankrate - WGN-TV - CBS News Radio - This Morning With Gordon Deal - Everyone's Talkin' Money social: - https://twitter.com/mitra_mallika - https://www.linkedin.com/in/mallika-mitra-4577a386/ editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2023-06-16T17:38:28.000Z' modified: '2024-01-10T14:56:22.000Z' section: Investing tags: - News - stocks word_count: 485 canonical: https://money.com/faang-magnificent-seven-tech-stocks/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Illustration collage of a person picking stock charts with a phone app](https://img.money.com/2023/06/News-Forget-FAANG-Magnificent-Seven-Stocks.jpg?crop=0px%2C194px%2C2880px%2C1620px&quality=85) As artificial intelligence takes the world by storm, a new set of tech stocks are replacing FAANG: the "Magnificent Seven." Many of the original [FAANG stocks](https://money.com/faang-stocks-apple-amazon-facebook/) — Meta (formerly called Facebook), [Amazon](https://money.com/how-to-buy-amazon-stock/), [Apple](https://money.com/how-to-buy-apple-stock/), Netflix and [Alphabet](https://money.com/how-to-buy-alphabet-stock/) (the parent company of Google) — show up on the list of the "Magnificent Seven." CNBC's [Jim Cramer](https://www.cnbc.com/2023/06/01/jim-cramer-names-his-magnificent-seven-stocks-that-are-the-real-deal.html#:~:text=Cramer%20named%20these%20%E2%80%9CMagnificent%20Seven,%2C%20Meta%2C%20Tesla%20and%20Alphabet.) recently used the new tagline to describe Apple, Microsoft, Nvidia, Amazon, Meta, [Tesla](https://money.com/how-to-buy-tesla-stock/) and Alphabet. The [craze around AI](https://money.com/best-strategy-invest-in-ai/) has helped push some of these [tech stocks to all-time highs](https://money.com/can-tech-stocks-keep-driving-the-market-rally/) and driven the [S&P 500](https://money.com/how-to-invest-in-sp500/) into a [bull market](https://money.com/stocks-are-in-bull-market-will-it-last/). As of Thursday's market close, the stock of semiconductor company Nvidia is up around 192% for the year, while Meta has soared 134% in 2023 and Tesla, 108%. Apple, Microsoft, Amazon and Alphabet have all jumped more than 40% year to date. Cramer coined the term "FANG" back in 2013 to describe hot, high-growth [stocks](https://money.com/how-to-buy-stocks/). (Note that Microsoft, which has been a public company since the 1980s, wasn't included, and that Apple was added later, making the term FAANG.) But with a wave of excitement about [new innovations and technology](https://money.com/investing-in-ai-stocks/) like the ones behind [ChatGPT](https://money.com/can-chatgpt-predict-stock-perform-research/), the new "Magnificent Seven" name for the tech behemoths is catching on. Michael Hartnett, investment strategist at Bank of America, for example, referred to the "Magnificent Seven" as the big seven "monopolistic U.S. tech stocks" in a research note in May. When discussing these seven stocks last month — and specifically Nvidia's run impressive run — Steve Sosnick, chief strategist at Interactive Brokers, [wrote](https://ibkrcampus.com/traders-insight/securities/options/what-is-the-options-market-expecting-for-nvda-earnings/) that "pricy stocks propelled by high expectations have more room to fall if those expectations aren’t met." ## Concern for a tech-driven rally If you invested in any of these seven stocks during the [stock market's dismal 2022](https://money.com/2023-big-year-stocks-historical-trends/), which was plagued with the Federal Reserve's [interest rate hikes](https://money.com/federal-reserve-pause-interest-rate-hikes/) and recession fears, you're probably cheering on their growth. But some experts fear the fact that so much of the market's gains can be attributed to the tech sector may mean the rally isn't actually sustainable. In a recent [interview with Money](https://money.com/can-tech-stocks-keep-driving-the-market-rally/), Liz Young, head of investment strategy at SoFi, said that the while it's possible "large cap stocks know something that the rest of the market doesn’t," it's also possible that the rest of the market doesn't have much momentum. Because of the inherent unpredictability in the markets, there's no telling how the "Magnificent Seven" and other tech stocks will fare in the rest of 2023 and beyond, either. The stock market rally has broadened out in recent days, and Wall Street analysts continue to closely watch how sectors outside of technology perform. But for now, you'll likely be hearing a lot more of the seven tech giants and their new nickname. [Can Tech Stocks Keep Driving the Market Rally?](https://money.com/can-tech-stocks-keep-driving-the-market-rally/) [The S&P 500 Is in a Bull Market. Will It Last?](https://money.com/stocks-are-in-bull-market-will-it-last/) [7 Best Online Trading Platforms of 2023](https://money.com/best-online-stock-trading/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/faang-magnificent-seven-tech-stocks/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Stocks", "item": "https://money.com/stocks/" }, { "@type": "ListItem", "position": 4, "name": "Forget FAANG, Meet the 'Magnificent Seven' Stocks Surging in 2023" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/faang-magnificent-seven-tech-stocks/#webpage", "url": "https://money.com/faang-magnificent-seven-tech-stocks/", "name": "Forget FAANG, Meet the 'Magnificent Seven' Stocks Surging in 2023", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-06-16T17:38:28.000Z", "mainEntity": { "@id": "https://money.com/faang-magnificent-seven-tech-stocks/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/faang-magnificent-seven-tech-stocks/#breadcrumb" }, "dateModified": "2024-01-10T14:56:22.000Z" }, { "@type": "NewsArticle", "headline": "Forget FAANG, Meet the 'Magnificent Seven' Stocks Surging in 2023", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/06/News-Forget-FAANG-Magnificent-Seven-Stocks.jpg?crop=0px%2C194px%2C2880px%2C1620px&quality=85", "width": 1012, "height": 569, "caption": "News-Forget-FAANG-Magnificent-Seven-Stocks" } ], "author": [ { "@type": "Person", "name": "Mallika Mitra", "url": "https://money.com/author/mallika-mitra/", "@id": "https://money.com/author/mallika-mitra/#author", "description": "Mallika Mitra is a contributing editor for Money, based in Chicago. 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