Megacap Mag 7 stocks rise ahead of big tech earnings this week

MAG Silver

28/10/2024 12:59

** The elite "Magnificent Seven" group of megacap stocks up in
premarket trading, ahead of some big tech earnings this week
    ** Apple  AAPL.O , Nvidia  NVDA.O , Microsoft  MSFT.O ,
Amazon.com  AMZN.O , Meta Platforms  META.O , Alphabet
 GOOGL.O , Tesla  TSLA.O  up 0.3%-2.2%
    ** GOOGL earnings due on Tue, MSFT and META on Wed, AMZN and
AAPL on Thu
    ** "We know about the (tech cos') big spending, but are we
starting to see the benefits of their investments?" said Jay
Woods, chief global strategist at Freedom Capital Markets
** On Thu, TSLA surged 22% following a strong car sales growth
forecast, in a positive start to the Mag 7 earnings;  
** Last week, NVDA briefly toppled AAPL to become world's most
valuable company, with the AI chip giant's market cap standing
at ~3.47 trln as of Fri close
    ** Investors also on the lookout for Nov. 5 U.S. elections
in another test for markets
** 

(Reporting by Ankika Biswas in Bengaluru)
((mailto:Ankika.Biswas@thomsonreuters.com))