As the stock market begins to recover from the unprecedented effects of the global pandemic, several mag-7 stocks find themselves in the spotlight, each demonstrating unique potential for significant growth in their respective sectors. These sectors predominantly consist of information technology, healthcare, financial services, consumer discretionary, communication services, industrials and materials. Here’s a closer look at each category and their stand-out stocks.
Firstly, in the information technology sector, Microsoft Corp (MSFT) has shown significant resilience in the face of market volatility. The company’s diversified portfolio, encompassing software, hardware, and cloud services, has played a significant role in its steady performance. Microsoft’s cloud platform, Azure, has experienced substantial growth, fueled by the increased demand for remote work solutions due to the pandemic.
Furthermore, Accenture (ACN), the global consulting giant, is also defying the odds in this sector. As a trusted partner for many businesses embarking on digital transformation journeys, Accenture has seen increased demand for its services, contributing to a strong stock performance.
In the healthcare sector, Johnson & Johnson (JNJ) remains a prominent figure, owed largely to its diverse portfolio of products and robust pipeline of innovative medical solutions. The company’s response to the COVID-19 crisis, namely its vaccine development efforts, are equally noteworthy and have reflected positively on its stock performance.
The financial services sector is not to be overlooked, with VISA Incorporated (V) and JPMorgan Chase & Co (JPM) leading the pack. These two financial powerhouses have leveraged digital banking trends accelerated by the pandemic, driving growth and maintaining their market positions.
In the realm of consumer discretionary, Amazon.com Inc (AMZN) continues to dominate the e-commerce sphere, reaping the benefits of the acceleration in online shopping. However, it’s not just Amazon’s e-commerce operations driving the stocks upward. The company’s cloud computing subsidiary, AWS, has also contributed immensely due to the increasing reliance on digital platforms.
Alphabet Inc (GOOG and GOOGL), the parent company of Google, draws focus in the communication services sector. Despite the initial hit to its advertising revenues during the early days of the pandemic, the tech behemoth has rebounded, aligning with the digital transformation trends.
Similarly, in industrials and materials, Cummins Inc. (CMI) has proven its resilience despite disruptions to global supply chains. The company’s commitment to innovation and sustainability, particularly with its development of hydrogen and battery