November Update: S&P 500’s Magnificent Seven Outperforming, Except for One Indecisive Stock

The world may be in turmoil, but seven stocks have been looking magnificent in November. (AMZN), Apple (AAPL), Google parent Alphabet (GOOGL), Meta Platforms (META), Microsoft (MSFT), Nvidia (NVDA) and Tesla (TSLA) are fueling the newly confirmed market rally. They’re outpacing the S&P 500 with gains of 5.3% and the Nasdaq with gains of 7.4% this month. This rally is led by these megacaps, which have been big winners in 2023. Their performance puts them at the forefront of the AI boom. Meta, Google, and Amazon are making their own AI push, with Tesla claiming AI intentions.
Amazon stock, Microsoft, Nvidia, and Meta Platforms are on IBD Leaderboard while META stock is on SwingTrader. MSFT stock is on the IBD Long-Term Leaders list. Nvidia stock and Microsoft are on the IBD 50, and Microsoft stock and Meta Platforms are on the IBD Big Cap 20.
Company Nov. stock gain YTD gain
Apple 9.2% 43.5%
Amazon 7.9% 70.9%
Google 6.9% 50.3%
Meta 9.1% 173.2%
Microsoft 9.3% 54.1%
Nvidia 18.5% 230.7%
Tesla 6.9% 74.3%
Apple stock has rallied 9.2% so far in November and AAPL stock is up 43.5% for the year. Apple’s CEO Tim Cook has said the company is “investing quite a bit” in AI amid concerns about growth. Amazon stock set a recent bottom on Oct. 26 and has jumped 7.9% this month, rallying 70.9% in 2023. Google stock is up 6.9% in November and has jumped 50.3% this year. Meta stock has surged 173.2% in 2023 after running up 9.1% so far this month. Microsoft stock is up 9.3% so far in November and has leapt 54.1% this year. Nvidia stock has sprinted 18.5% in November and has surged 230.7% in 2023. Tesla stock has rebounded 6.9% in November and is up 74.3% this year despite some concerns about the company’s earnings and revenue growth.
While the world may be struggling, these seven stocks have been creating their own success story with their magnificent performance.


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