As the global economy recalibrates in the aftermath of the COVID-19 pandemic, certain industries and stock markets have demonstrated their resilience by defying adverse conditions. Precisely, Magnificent 7 – or Mag 7 stocks are in the spotlight as the stock market makes a triumphant recovery. Renowned as high-performing entities, these companies provide essential services varying from healthcare to technology and entertainment.
The first of the Magnificent Seven is a household name – Amazon (AMZN). The e-commerce powerhouse has played a crucial role during the pandemic as more and more consumers chose online shopping to reduce the risk of virus transmission. Amazon did not just meet the increased demand, but also expanded its scale and diversified its offerings – the deciding factors that earned it 72% stock growth in 2020.
Next is Apple (AAPL), a leading technology company globally. Amidst the pandemic’s chaos, Apple managed to launch various products attracting millions of patrons. Leveraging its reputation for quality and innovation, the company’s stocks have seen a 79% surge since the pandemic began, serving as a testament to the company’s adaptability and resilience.
Netflix (NFLX), the global streaming giant, capitalized on the indoor living adjustments brought by the pandemic. As cinema halls shuttered worldwide, Netflix emerged as the primary entertainment source for millions. With over 200 million paid subscribers, it registered a 67% boost in its stocks in 2020.
Next in line is Alphabet (GOOGL), the parent company of Google. From navigating through daily tasks with Google maps to utilizing Google Suite for remote working and learning, the company’s integrated tech services have been indispensable amidst the changing work and lifestyle dynamics. As a result, Alphabet saw a commendable 31% growth in its stock price.
Facebook (FB) too, has held its ground firm during the tumultuous times. With people retreating to the virtual world for connection and entertainment, the social media giant saw a significant increase in active users. Consequently, Facebook’s stocks have encountered a 33% rise, reflecting its underlying strength.
Microsoft (MSFT) stepped up during the transition to remote work. Its offerings, particularly Microsoft Teams, became an essential tool for communication and collaboration amidst the work-from-home regime induced by the pandemic. Furthering its strong market position, Microsoft witnessed a 41% growth in its stock in 2020.
Lastly, the video-meeting platform Zoom (ZM) became an unexpected hero of the COVID era. As work, school, and social interactions shifted online, Zoom conquered the market with its user-friendly interface, making virtual communications seamless. Consequently, Zoom stocks rallied by mind-boggling 396% last year.
In conclusion, as economies recalibrate, the Mag 7 stocks have been trailblazers in adapting to the changing dynamics brought by the COVID-19 pandemic. Their rise amid widespread recession reflects their operational efficiency, adaptability, and crucial role in the ‘new normal.’ A
