The “Magnificent Seven” stocks are among the most dominant in the market. The seven are: Alphabet (GOOG +0.61%)(GOOGL +0.46%), Apple (AAPL +1.53%), Amazon (AMZN +0.12%), Meta Platforms (META -3.33%), Microsoft (MSFT +3.66%), Nvidia (NVDA +0.22%), and Tesla (TSLA -1.54%). As of this writing, they are all among the top-10 most valuable companies in the U.S.

The term “Magnificent Seven” was coined by Bank of America chief investment strategist Michael Hartnett in 2023 and is a play on the name of a 1960 Western film of the same name (it was later remade in 2016). Hartnett chose these seven stocks based on their strong brands, monopolistic tendencies, and tech focus.

Based on that, you might think it would be a great idea to own all seven…