BofA’s Hartnett Says Mag Seven Stock Run Has Further to Go

Bank of America strategist Michael Hartnett believes the recent surge in US big tech stocks, known as the "Magnificent Seven" (M7), has more room to grow. The M7 includes Apple, Microsoft, Amazon, Alphabet, Meta, Nvidia, and Tesla, which have seen significant gains over the past two years. Hartnett suggests that investors should position their portfolios to benefit from further advancements in these leading technology companies. He cites the ongoing shift towards digitalization and the dominance of these firms in their respective industries as key drivers for their continued success. While the article does not provide a specific timeline, Hartnett's outlook indicates that the M7 stocks are likely to continue their upward trajectory, at least in the near-term. Investors should consider this analysis when making investment decisions, but should also exercise caution and diversify their portfolios to manage risk.