Magnificent Seven drive bumper year for US stocks By John-Paul Ford Rojas Updated: 16:51 EST, 29 December 2023 e-mail View comments America's stock market rally this year has been driven by bumper gains for its 'Magnificent Seven' tech giants. Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla have climbed by between 50 per cent and 240 per cent in 2023. Now worth more than £9trillion combined, they have been responsible for around two-thirds of S&P 500 gains this year. The rise of Artificial Intelligence – a technology that some think could transform the world – helped fire up valuations. And the prospect of lower interest…
