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Step aside Magnificent Seven, the BATMMAAN is here!
No, not everyone's favorite dark and brooding caped crusader, but the latest rebranding of the top tech stock leaders and outperformers, now including a rising favorite in the AI chip space: Broadcom (AVGO), Apple (AAPL), Tesla (TSLA), Microsoft (MSFT), Meta Platforms (META), Amazon (AMZN), Alphabet (GOOG, GOOGL), and Nvidia (NVDA).
Freedom Capital Markets chief global strategist Jay Woods speaks with Yahoo Finance about his position on several of the BATMMAAN components.
"The one stock in this group that no one's really talking about too much is Apple. Apple is at $3.8 trillion [market cap]. It's the third biggest in the XLK (XLK) now because they've repositioned that in July," Woods tells Catalysts host Madison Mills. "And to me that is a utility stock that just continues to climb. It's AI story is really just coming to our phones as every upgrade comes to our phone."
"The potential on that upgrade cycle and the utility factor that it's been, leads me to believe this could be a $5 trillion company by the end of 2025."
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Also catch Freedom Capital Markets chief global strategist Jay Woods why the sudden downturn in Nvidia shares and the Dow Jones Industrial Average (^DJI) may not be such a cause for alarm as investors think: "To me, this is just a pause."
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Luke Carberry Mogan.