In recent years, the stock market has witnessed the rise and fall of various tech giants, each dominating conversations and headlines. The focus initially revolved around FAANG – Facebook aka Meta Platforms Inc (NASDAQ:META), Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Netflix Inc (NASDAQ:NFLX), and Google aka Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). However, the landscape has shifted dramatically, with the emergence and decline of different tech conglomerates, leading us to the current era of the AI5.
The FAANG Era
For a couple of years, FAANG stocks were the talk of the town, dominating financial discussions and making waves on CNBC broadcasts. The collective success of Facebook, Apple, Amazon, Netflix, and Google seemed unbeatable, and investors couldn’t get enough of these tech powerhouses. However, this era came to an abrupt end when Facebook rebranded itself as Meta, resulting in a significant decline in its stock price. Simultaneously, Netflix faced challenges that impacted its market standing, marking the conclusion of the FAANG era.
Also Read: Top FAANG Bets for 2024: Analyst Picks Alphabet and Amazon, Eyes GenAI Revolution
The Rise of Mag7
As the FAANG fervor subsided, a new group of tech giants emerged, known as the Magnificent 7 or Mag7. This coalition featured Tesla Inc (NASDAQ:TSLA), NVIDIA Corp (NASDAQ:NVDA), Apple, Google, Meta, Amazon, and Microsoft Corp (NASDAQ:MSFT). With Tesla and Apple spearheading the pack, the Mag7 enjoyed a period of dominance. However, as the dynamics of the tech industry continued to evolve, both Tesla and Apple faced challenges that led to a slowdown in their once-explosive growth, causing the Mag7 hype to subside.
Also Read: ‘Magnificent 7’ Widens Gap With Rest Of S&P 500, But That May Change In 2024
Enter the AI5
The latest chapter in the ever-evolving tech saga introduces the AI5, as posted by Redditor u/PizzaMan22554. AI5 is a term encapsulating the top 5 AI (artificial intelligence) stocks shaping the current market landscape. This elite group comprises Microsoft, Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), Broadcom Inc (NASDAQ:AVGO), Nvidia, and Advanced Micro Devices Inc (NASDAQ:AMD). Each of these companies plays a crucial role in the development and deployment of artificial intelligence, a technology…
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