Stocks may be in for a little scare heading into 2024, with Interactive Brokers Chief Strategist Steve Sosnick stating the “”setup isn’t great.”” Sosnick went on to convey hesitancy over the strength of the Magnificent Seven tech stocks — comprised of Alphabet (GOOG, GOOGL), Amazon (AMZN), Apple (AAPL), Meta (META), Microsoft (MSFT), Nvidia (NVDA), Tesla (TSLA) — and whether they should be grouped together at all.
“At this point, you can’t look at them as seven stocks together,”” Sosnick explains to Yahoo Finance about the mixed earnings results from Big Tech players. “”Tesla is, I think, at risk of being kicked out of the club right now because they’ve been really underperforming since their earnings have come out.”
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