'Small 7' Soar Under the Magnificent 7's Radar: Time to Rethink Your Strategy?
If anything has characterized 2023, it has been the strength of the technology sector in general and artificial intelligence in particular.
The so-called Magnificent 7's rally was responsible for the U.S. stock market having a great year, due to the weightage they have in the S&P 500.
The S&P 500 outperformed the S&P 500 Equal Weighted index by 12% last year, the second largest gap since 1971 (only 1998 had the largest gap at 16%).
Within the small-cap sector, we also have seven tremendous stocks listed on the S&P 600 Small Cap.
Let's take a look at these 7 stocks:
ELF Beauty (NYSE:ELF) offers cosmetic and skin care products.
The company was formerly known as J.A. Cosmetics Holdings and changed its name to e.l.f. Beauty in April 2016. It was founded in 2004 and is headquartered in Oakland, California.
In the last year, its shares are up +177%.
It reports its results for the quarter on February 1. For 2024 it expects earnings per share (EPS) to increase by +60.7% and revenue by +58%.
It has 14 ratings, of which 11 are buy, 3 are hold and none are sell.
Abercrombie & Fitch Company (NYSE:ANF) operates as a retailer and offers a variety of apparel, personal care products, and accessories for men, women, and children. It was founded in 1892 and is headquartered in New Albany, Ohio.
Its shares rose +243.30% in the last year.
On March 6 it presents its income statement. For 2024 it expects a revenue increase of +14%.
Rambus (NASDAQ:RMBS) offers semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, and Canada. It was incorporated in 1990 and is headquartered in San Jose, California.
Its shares are up +77.62% in the last year.
On January 29 it presents its numbers and is expected for 2024 an increase in
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