Asset management firm Bridgewater Associates, founded by Ray Dalio, bought magnificent seven stocks in bulk, except Tesla (NASDAQ:TSLA). It’s worth noting that TSLA stock is down about 30% year-to-date as the electric vehicle (EV) maker is struggling to drive volumes and defend margins amid rising interest rates and competitive headwinds.
Though Bridgewater avoided investing in TSLA stock, the firm’s latest 13F filings reveal that it significantly increased its holdings in Alphabet (NASDAQ:GOOGL), Apple (NASDAQ:AAPL), Nvidia (NASDAQ:NVDA), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Meta Platforms (NASDAQ:META). Particularly noteworthy is Bridgewater’s enormous increase in its holdings of Apple stock sequentially. Additionally, the investment firm started a new Advanced Micro Devices (NASDAQ:AMD) stock.
With this in mind, let’s check what the future holds for these stocks.
Which Magnificent 7 Stock Is the Best?
TipRanks’ Stock Comparison tool shows that AMZN has the upper hand among seven magnificent stocks based on analysts’ consensus ratings, Smart Score, and upside potential over the next 12 months.
AMZN stock has a Strong Buy consensus rating, with all analysts recommending a Buy.
On the other hand, analysts are cautiously optimistic about AAPL stock, as reflected in its Moderate Buy consensus rating. Apple is witnessing a softness in product demand in the near term. However, these challenges are transitory and will likely abate.
Bottom Line
While notable investment management companies like Bridgewater Associates buying stocks might be seen as a positive indicator, investors should consider multiple factors before making investment decisions. This is where comprehensive tools like TipRanks’ Experts Center can be invaluable for investors to make informed investment decisions.
