If you invested R1,000 in the magnificent seven at the start of 2024, here’s how much you would have

R1,000 invested in Nvidia would have grown to R2,528 by 10 June 2024, while Meta and Alphabet Inc. would have increased to R1,451 and R1,265, respectively.

Only one of the magnificent seven companies — Tesla — has seen share price declines since the start of the year.

Nvidia, Meta, Alphabet, Amazon, Microsoft, and Apple saw their share prices grow by between 4.6% and 152.84% over the six months.

This comes after a storming year in 2023, which saw the value of each of the magnificent seven’s stock grow by at least 48%.

However, some analysts believe the stocks will be diverging more in 2024, with Nvidia and Meta continuing to increase while Tesla declines.

The magnificent seven tech stocks — Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla — saw their share prices grow by between 48.52% and 233.28% in 2023.

Nvidia has seen the highest growth so far in 2024 at 152.84%, making an investment of R1,000 at the start of the year worth R2,528.40 today.

The company went for a ten-to-one stock split on 6 June 2024. It had been trading at around $1,200 per share.

Each holder of common stock received nine additional shares of common stock, distributed after market close on Friday, 7 June 2024.

The stock split dropped its closing share price to $120.88 on Friday.

According to Investopedia, stock splits provide the benefit of making stock seem more affordable, improving trading liquidity.

“In a stock split the number of outstanding shares increases and the price per share decreases proportionally, while the market capitalisation and the value of the company do not change,” it explained.

Considering the ten-to-one split, Nvidia’s share price grew from $48.17 at the start of the year to $121.79 by Monday, 10 June 2024.

Meta’s share price grew by 45% over the period, from $346.29 to $502.60. A R1,000 investment in Meta at the start of 2024 would be worth R1,451.40 today.

Alphabet and Amazon saw similar share price growth between 1 January and 10 June 2024.

Alphabet’s share price growth was slightly higher at 26.56%, growing from $138.56 to $176.63. Amazon’s share price grew 24.76% from $149.93 to $187.06.

A R1,000 investment in Alphabet and Amazon at the start of the year would have returned R1,265.60 and R1,247.60, respectively.

Microsoft and Apple saw relatively modest growth over the period, with the former seeing higher share price increases than Apple.

Microsoft’s share price increased from $370.87 to $427.87, representing a 15.37% increase. A R1,000 investment at the start of the year would have grown to R1,153.70 by 10 June.

Apple’s share price increased by 4.6% over the six months, from $184.64 to $193.12. Those who invested R1,000 in early January would have seen a return of R46.00.

Tesla’s share price has dropped by 30.04% from $248.42 to $173.79 since the start of the year.

Those who invested R1,000 at the start of the year would have lost R300.40, bringing their investment to R699.60 on 10 June 2024.

The table below tracks the share prices of the magnificent seven stocks from the beginning of January to June 2024.

Magnificent seven share performance in H1 2024
Company Start of 2024 Price on 10 June 2024 Change Return on R1,000 invested
Nvidia $48.17 $121.79 152.84% R2,528.40
Meta $346.29 $502.60 45.14% R1,451.40
Alphabet $139.56 $176.63 26.56% R1,265.60
Amazon $149.93 $187.06 24.76% R1,247.60
Microsoft $370.87 $427.87 15.37% R1,153.70
Apple $184.64 $193.12 4.60% R1,046.00
Tesla $248.42 $173.79 30.04% R699.60

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If you invested R1,000 in the magnificent seven at the start of 2024, here’s how much you would have