The Magnificent Seven stocks, which we all call the Mag7 now, have been on an incredible growth journey in recent years. These stocks almost all outperformed the S&P 500’s gain of 23% in 2024. And many of these stocks have risen exponentially over the last decade to multi-trillion-dollar valuations. But now investors have to look forward to what will happen in the future rather than what they missed out on or already participated in the past.

Tactical Bulls has compiled a review of the Mag7 stocks to see where they may go in 2025. If Wall Street is right, these massive gainers are projected to keep performing. This outcome is by no means preordained. There are lots of opportunities and lots of risks that have to be considered.

Strategists are forecasting that the S&P 500 will rise 12% or more for 2025. Some of the Mag7 stocks handily outperformed the market in 2023 and the valuations already range from $1 trillion to over $3 trillion. It would be natural for some investors to worry whether or not they have missed the boat. This also might imply that many tactical investors will be opportunistic buyers if there are any substantial pullbacks in 2025. Or did the pullback in December represent that opportunity?

Tactical investors simply want to be where they think their capital will grow for the time being. This can include short-term opportunities as trades. It can also include a mix of long-term secular themes that need to be held on for dear life (HODL!).

Please note that this is not to be intended as a recommendation to buy or sell any of these stocks. Any ratings and price targets mentioned are from outside firms that have been named. The consensus analyst price target data is from Finviz. Any investor who is considering buying or selling the Mag7 stocks should make those decisions with their financial advisors.

Most of the Mag7 stocks are shown to have implied upside for 2025, but the performance has been so strong some analysts are starting to show some caution. Strategists have also pointed out how the top 10 companies are now such a large portion of the market that better upside may be found in the other 493 stocks in the S&P 500. Dan Niles, a former analyst-turned hedge fund manager, has even opined that “the easy money party may be over” and that the AI spending should see a digestion phase (moderating growth) in 2025.

Tactical Bulls has also outlined that the Federal Reserve is becoming much more of a risk with interest rates. There could even be no rate or just one rate cut in 2025 based on fresh data and market prices. And there has been some interest in the worst performing stocks of 2024 as catch-up plays as well.

All the information provided is based on the current snapshot in time including end of year data and the first few days of 2025. Investors and analysts can change their opinions and positions on a moment’s notice. So, let’s take a look at what appears to be in the tea leaves for the Mag7 in 2025.

GOOGLE… OR ALPHABET

Alphabet Inc. (NASDAQ: GOOGL) up 36% in 2024
Market Cap: $2.3 trillion
2024 Closing Price: $189.30
Avg. Target Price: $210.96
52-Week High: $201.42

Notes for start of 2025: Alphabet faces a potential breakup under DOJ scrutiny in the government’s monopoly case against the company. How this is handled, in particular the final recommendations, could create a significant operational overhang for the company most of still think of as Google. One wild card is that search is being challenged directly by the use of AI from the likes of ChatGPT, Claude and multiple others. And it remains to be seen if the recent quantum computing breakthrough announcement will alter the computing landscape that much more.

This DOJ enforcement is coming under the Democrat administration, and it is not widely expected that the Republicans really want to come to Alphabet’s rescue based on the company’s wide-open bias. JMP Securities downgraded Alphabet at the start of 2025 based on these breakup/DOJ potentialities. That said, even last August a Buy rating from Needham cited a $210 value for Alphabet based on the breakup value of ad revenues, YouTube, search, Gmail, endless intellectual property and its many assets in a sum-of-the-parts analysis. The problem there is that the stock was closer to $160 then — versus $190 at present.

AMAZON, AWS & MORE

Amazon.com, Inc. (NASDAQ: AMZN) up 44.4% in 2024
Market Cap: $2.3 trillion
2024 Closing Price: $219.39
Avg. Target Price: $243.65
52-Week High: $233.00

Notes for start of 2025: Amazon was deemed to be a post-election winner based on the stronger than expected consumer. Amazon’s core Amazon platform touches almost every household in North America. AWS keeps growing, Amazon is investing into AI, it is getting more search and ad revenues.

Every investor seems to have forgotten about the pessimism around Amazon after earnings last summer took the stock from $185 down to $155. Amazon regained all of its losses by the end of September and the stock peaked out above $230 in December for a 50% gain from its summer/2024 lows.

Wolfe Research raised its target to $270 from $250 to kick 2025 off, and other higher targets were set by analysts in December: Tigress (to $290 from $245); JPMorgan (to 280 from $250); Bernstein (to $265 from $235); and Jefferies (to $275 from $235). Truist has it as a top 4 Internet Stocks pick for 2025.

IS APPLE INTELLIGENCE UP TO THE AI CHALLENGE?

Apple Inc. (NASDAQ: AAPL) up 30.7% in 2024
Market Cap: $3.6 trillion
2024 Closing Price: $250.42
Avg. Target Price: $248.60
52-Week High: $260.10

Notes for the start of 2025: Apple is going to continue to be a story that is all about the iPhone and AI (Apple Intelligence) for the iPhone 16 (and later models), and for iPads and Macs. And that includes Apple’s ecosystem which acts like flypaper to keep customers from wanting to ditch for Android.

Dan Ives of Wedbush Securities is the top bull on Apple, noting that Apple has 400 million iPhone models that have not been refreshed in over 4 years, and he raised his target to $325 from $300 right after Christmas. Other recent analyst calls have been less aggressive by other analysts. And reports that Apple had to give incentives and discount its prices in China wasn’t a good start to 2025 for the company.

CEO Tim Cook is also viewed as having a good working relationship with President Trump which may help with fears about tariffs from incoming tech products from China and other nations. How that unfolds remains to be seen. One issue to consider as well is what may happen to those massive payments made by Alphabet for search if Alphabet is truly broken up or regulated much more harshly.

FACEBOOK, OR WHATEVER META

Meta Platforms, Inc. (NASDAQ: META) up 66% in 2024
Market Cap: $1.49 trillion
2024 Closing Price: $585.51
Avg. Target Price: $666.03
52-Week High: $638.40

Notes for start 0f 2025: The company most of us still call Facebook has been aggressively pursuing its investments into AI. CEO Mark Zuckerberg had also been aggressively pursuing favor from President Trump ahead of his inauguration. With much scrutiny around the company’s filtering, screening and allowing or blocking information, Meta has a lot riding on whether or not a formal TikTok ban takes place or not. Meta even has named a replacement for its Chief Global Affairs Officer that is a Republican in a move that might better align the company to the Trump administration and to the Republican congress.

Meta has had enough pressure in the past that both sides of Congress have taken issue with the company. The same is true internationally as well. Facebook would no longer have been allowed at all to make the acquisitions it has made had they taken place in the last few years. Facebook’s live Reels is where the TikTok beneficiary or risk comes into play. And Meta owns Oculus VR, WhatsApp, Instagram and a whole host of other bolt-on services that are under its umbrella.

Analysts have continued to raise their targets for Meta in 2025. Truist even named it in its Top 4 Internet Stocks for 2025.

MICROSOFT’s BORING 2024, BUT…

Microsoft Corporation (NASDAQ: MSFT) up 12.7% in 2024
Market Cap: $3.1 trillion
2024 Closing Price: $421.50
Avg. Target Price: $507.21
52-Week High: $468.35

Notes for start of 2025: Microsoft enters 2025 in a strong position in all of its core markets. It is a huge winner from its investment in OpenAI (ChatGPT), and its cloud transition was a huge victory over the last decade.

Loop Capital appears to have the “street-high” target at $550 from the end of December. Microsoft has not been as aggressively upgraded by as many firms covering some of the other Mag7 stocks, but here are some target hikes from December: UBS (to $525 from $500) and Stifel (to $515 from $475).

Microsoft’s stock peak was all the way back in July/2024. The stock saw a brutal sell-off over the summer that weighed on its returns in 2024. Still, it’s under its 52-week high by 10% and the consensus target implies close to 20% upside if Wall Street analysts are reading their tea leaves correctly.

NVIDIA’s AI TRAIN

NVIDIA Corporation (NASDAQ: NVDA) up 171% in 2024
Market Cap: $3.5 trillion
2024 Closing Price: $134.29
Avg. Target Price: $173.18
52-Week High: $152.89

Notes for start of 2025: NVIDIA remains the leader in AI servers and systems with more than 80% market share from multiple sources. NVIDIA rise to this pinnacle of market caps was the fastest seen by all of the Mag-7 stocks, by far, and now it’s even a Dow stock. On a split-adjusted basis, its stock is actually up 800% from just two years ago.

Broadcom, Qualcomm, AMD, Intel and a slew of other emerging players all want part of NVIDIA’s market share. At what point will the AI computing demands reach a “good enough” status where lower priced competitors can start getting orders simply because of cost? As noted above, fund manager Dan Niles expects a digestion phase this year in AI spending.

NVIDIA’s analysts almost unilaterally raised their price targets over the course of Q4-2024 even without consideration of any “election” effect.

TESLA, MUSK & THE TRUMP-EFFECT

Tesla, Inc. (NASDAQ: TSLA) up 62.5% in 2024
Market Cap: $1.25 trillion
2024 Closing Price: $403.84
Avg. Target Price: $300.25
52-Week High: $488.50

Notes for start of 2025: Looking forward, will Tesla be considered just the leader of the U.S. electric vehicle market or will the focus shift to its robots, robotics, power storage, AI and robotaxis? There is also the consideration that the 50%+ gain from November into December being tied to Elon Musk’s close relationship to President Trump.

Tesla has had analysts lagging far behind for a long time, and it has been rare for the stock to be under the consensus price targets because some firms have such bearish targets. Tesla also started off the year weak based on a dip in deliveries missing expectations. The rapid post-election rise saw a quick and brutal sell-off into the first day of 2025.

In December Mizuho became the “street-high” price target at $515. And to kick off 2023 three calls were seen: Evercore ISI (In-Line rating) raised its target to $275 from $195; Truist (Hold) cut its target to $351 from $360; and Canaccord Genuity (Buy) raised its target to $400 from $298.

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Tactical Bulls does not maintain any formal ratings nor does it maintain formal price targets on these stocks. Any opinions and targets named herein have been assigned to the firms issuing them. And hopefully everyone remember that analysts are not universally correct in every one of their calls. Sometimes they are dead wrong.

And lastly… Shouldn’t Broadcom Corp. (NASDAQ: AVGO) be considered into this being the Mag8 at this point? After all, it did cross over the $1 trillion mark based on massive growth in its AI chip revenues.