The Magnificent Seven are overbought, but this fundie thinks Nvidia is just getting started
Some mega caps are looking stretched but this fundie still believes one of its best performers has even further to run.
Chris Chen is an APAC senior investment director at American Century Investment, a fund manager with over USD200 billion in assets under management.
It’s largely the Magnificent Seven (Nvidia, Microsoft, Amazon, Apple, Alphabet, Tesla, and Meta) that are driving the market higher at the moment. Does the group look overvalued?
If you look at the Magnificent Seven, you have AI plays, you have some companies which are more in cloud services, you have Tesla in autos and you have Apple. These are very different businesses.
With AI we see a very strong and sustainable growth path and we're at the very early innings of its growth trajectory.
