in our free newsletter.

Thousands benefit from our email every week.

  • Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Nvidia

Artificial intelligence has emerged as a leading trend in the tech sector, and Nivida (NVDA) is reaping significant rewards from investors’ insatiable appetite for AI.

Shares of the chip-making giant skyrocketed by more than 240% in 2023, making it the No.1 performer among the Magnificent Seven.

The company’s financial growth has been exceptional. In the fiscal quarter ended Oct. 29, 2023, revenue surged 206% year over year to $18.12 billion. Adjusted earnings came in at $4.02 per share, up a staggering 593% from a year ago.

Nvidia founder and CEO Jensen Huang highlighted AI as a catalyst for the business.

“Our strong growth reflects the broad industry platform transition from general-purpose to accelerated computing and generative AI,” he said in the earnings press release. “Large language model startups, consumer internet companies and global cloud service providers were the first movers, and the next waves are starting to build.”

The remarkable rally in Nvidia shares also propelled the company's market capitalization beyond the $1 trillion mark.

Meet Your Retirement Goals Effortlessly

The road to retirement may seem long, but with WiserAdvisor, you can find a trusted partner to guide you every step of the way

WiserAdvisor matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you've always dreamed of. Start planning early, and get your retirement mapped out today.

Get Started

Meta Platforms

While Mark Zuckerberg's venture into the metaverse might not have yielded the most desired outcomes, Meta (META) remains a behemoth in the social media industry.

The broad reach of Meta's family of services — including Facebook, Instagram, Messenger and WhatsApp, among others — amassed a whopping 3.96 billion monthly active users as of the end of Q3, marking 7% growth year over year. This figure represents roughly half of the global population.

Cramer highlighted Meta as an example of how mega cap companies “always have some business that people don’t like,” referencing the company’s investments in the metaverse.

Yet this situation could also serve as a springboard for the stock.

“If Mark Zuckerberg, for example, came out today and said he was closing his metaverse division, I can’t even imagine how high Meta stock would go,” Cramer suggested.

Meta shares are already flying high — they shot up about 185% in 2023.

Tesla

As the third-best performer of the Magnificent Seven, Tesla (TSLA) saw its shares soar by 130% in 2023.

The electric vehicle maker continues to expand its presence in the automotive industry.

In Q3, Tesla produced 430,488 vehicles, marking an 18% increase year over year. Deliveries totaled 435,059 vehicles for the quarter, up 27% from a year ago.

However, the path forward is not without uncertainties. According to CEO Elon Musk, there’s one major hurdle facing the industry: interest rates.

“I’m worried about the high-interest-rate environment that we’re in,” Musk said during the latest earnings conference call. “I just can’t emphasize this enough that the vast majority of people buying a car is about the monthly payment. … If interest rates remain high or if they go even higher, it’s that much harder for people to buy the car, they simply cannot afford it.”

The Federal Reserve could soon offer some solace to Musk, as Federal Open Market Committee members’ projections indicated three-quarter-point rate cuts in 2024.

Sponsored

Follow These Steps if you Want to Retire Early

Secure your financial future with a tailored plan to maximize investments, navigate taxes, and retire comfortably.

Zoe Financial is an online platform that can match you with a network of vetted fiduciary advisors who are evaluated based on their credentials, education, experience, and pricing. The best part? - there is no fee to find an advisor.

About the Author

Jing Pan

Jing Pan

Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

What to Read Next

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.