FOURTH QUARTER MARKET REVIEW
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Alphabet was among the "Magnificent Seven" large U.S. growth stocks that rebounded from a difficult 2022 and increased significantly in 2023, with some even doubling in price over their end of 2022 levels, driving a substantial amount of S&P 500 performance.
“Third, the extremely positive performance of the “Magnificent Seven” was a significant driver to overall stock performance in 2023. The “Magnificent Seven” are very large U.S. growth stocks: Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta (META), Tesla (TSLA), and NVIDIA (NVDA). The importance of these stocks was two-fold. First, their relative size in the S&P 500 is significant and their performance had an outsized impact on the index performance. Second, these stocks all rebounded from a difficult 2022 and increased significantly in 2023, with some even doubling in price over their end of 2022 levels. As a result, these seven stocks drove a substantial amount of the overall S&P 500 performance in 2023, while the average performance of stocks outside this group was less robust.”
Amazon was among the "Magnificent Seven" large U.S. growth stocks that rebounded from a difficult 2022 and increased significantly in 2023, with some even doubling in price over their end of 2022 levels, driving a substantial amount of S&P 500 performance.
“Third, the extremely positive performance of the “Magnificent Seven” was a significant driver to overall stock performance in 2023. The “Magnificent Seven” are very large U.S. growth stocks: Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta (META), Tesla (TSLA), and NVIDIA (NVDA). The importance of these stocks was two-fold. First, their relative size in the S&P 500 is significant and their performance had an outsized impact on the index performance. Second, these stocks all rebounded from a difficult 2022 and increased significantly in 2023, with some even doubling in price over their end of 2022 levels. As a result, these seven stocks drove a substantial amount of the overall S&P 500 performance in 2023, while the average performance of stocks outside this group was less robust.”
Apple was among the "Magnificent Seven" large U.S. growth stocks that rebounded from a difficult 2022 and increased significantly in 2023, with some even doubling in price over their end of 2022 levels, driving a substantial amount of S&P 500 performance.
“Third, the extremely positive performance of the “Magnificent Seven” was a significant driver to overall stock performance in 2023. The “Magnificent Seven” are very large U.S. growth stocks: Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta (META), Tesla (TSLA), and NVIDIA (NVDA). The importance of these stocks was two-fold. First, their relative size in the S&P 500 is significant and their performance had an outsized impact on the index performance. Second, these stocks all rebounded from a difficult 2022 and increased significantly in 2023, with some even doubling in price over their end of 2022 levels. As a result, these seven stocks drove a substantial amount of the overall S&P 500 performance in 2023, while the average performance of stocks outside this group was less robust.”
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