The inclusion of Nvidia, Tesla, and Microsoft expands the reach of the MAANG stocks, encompassing electric vehicles, Graphic Processing Units (GPUs), and software.
The United States stock market has been captivated by the remarkable performance of technology giants, collectively known as the MAANG stocks: Meta Platforms Inc (NASDAQ: META), Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN), Netflix Inc (NASDAQ: NFLX), and Google’s parent company Alphabet Inc (NASDAQ: GOOGL).
These companies have consistently demonstrated their prowess in the industry, driving innovation and generating substantial returns for investors. However, new contenders have emerged, expanding the MAANG acronym to MANATAM, which includes Microsoft Corp (NASDAQ: MSFT), Apple, Nvidia Corp (NASDAQ: NVDA), Alphabet, Tesla Inc (NASDAQ: TSLA), Amazon, and Meta.
A Reign of Technological Dominance
Meta previously known as Facebook, has evolved into a metaverse-focused company. By investing heavily in virtual and augmented reality technologies, Meta aims to reshape the way people connect, communicate, and experience digital content.
The company’s projected earnings growth is estimated at 24.96%, suggesting that Meta is expected to experience a significant increase in earnings per share, from $11.94 to $14.92.
Apple on the other hand is currently the biggest company in the world in terms of market capitalization. The current stock price of $193.99 values the company at $2.84 trillion. Despite the worsening macroeconomic conditions, Apple’s stock price forecast is highly bullish.
According to recent Apple news, the company launched its Vision Pro AR headset in June 2023. This is the company’s first completely new hardware release in nearly a decade.
Amazon, with its dominant presence in e-commerce and cloud services, is a formidable force. Revenue for the corporation continues to rise, spurred by greater online purchasing and broad use of Amazon Web Services (AWS). On June 30th, the closing price of Amazon stock on NASDAQ was $130.36. On the same day, the opening price was $129.50, indicating a gain of about 0.66%.
Netflix being the fourth on the MAANG list, has revolutionized the entertainment industry, becoming synonymous with streaming services. According to current data, Netflix’s market capitalization is pegged at $196.01 billion with the current stock closing at $440.09.
As part of Alphabet, Google remains a dominant force in the tech and digital realm. Google’s search engine and advertising platforms generate substantial revenue, while investments in artificial intelligence and autonomous vehicles position the company for future success. Google Cloud, its cloud services division, is also gaining traction as a significant revenue stream.
The Emergence of MANATAM
The inclusion of Nvidia, Tesla, and Microsoft expands the reach of the MAANG stocks, encompassing electric vehicles, Graphic Processing Units (GPUs), and software.
NVIDIA, a pioneer in GPUs and artificial intelligence (AI) technology, has seen its stock price climb by 159% in 2023. Nvidia’s technological advancements and strategic partnerships position it as a leader in GPU innovation and drive its continued growth.
With a market capitalization of $830.52 billion, Tesla, an innovative electric vehicle company, has transformed the automobile sector. The company’s commitment to sustainable transportation, along with its cutting-edge electric vehicle technology has garnered immense popularity among consumers and investors.
Furthermore, Microsoft, a technology industry titan, has proven its tenacity with a 38% increase in stock value this year. On Friday, the closing price of Microsoft stock was pegged at $340.54. Notably, Microsoft’s entry into cloud computing with Azure has been critical to the company’s sustained growth. As the demand for cloud solutions intensifies, Microsoft’s position in MANATAM strengthens.
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