Magnificent Seven stocks: A look at the tech rally and if it can broaden out

Big Tech could come under big pressure from overseas regulators and fresh economic prints. Citi Global Wealth Head of North American Investments Kristen Bitterly is eyeing the "Magnificent Seven" stocks — comprised of tech giants Apple (AAPL), Amazon (AMZN), Google (GOOG, GOOGL), Meta, Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA) — and how these innovators are contending with the Fed's interest rate goals. "If we are in an environment where you're going to have higher rates for longer, then obviously you would want companies in your portfolio that have really strong balance sheets," Bitterly tells Yahoo Finance Live anchors Brad Smith and Julie Hyman. "But I also think if you're in the camp where we could see a soft landing scenario, that then you would anticipate this rally could broaden out into other parts of the market." Bitterly highlights the way China's economic slowdown can hang over tech stocks and other developing tech economies.
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