S&P 500: Nvidia again? These Mag 7 stocks will be the fastest growing next year

This has been Nvidia’s (NVDA) year. The company is expected to be the fastest-growing of the Magnificent Seven in 2024, and is on track to be well into 2025.

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According to an Investor’s Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge, analysts believe AI giants’ revenues will grow by more than 39% in 2024, the highest revenue growth forecast among the Magnificent Seven. It’s also significantly higher than the seven companies’ average growth forecast of 16% in 2025.

“NVDA’s better-than-expected results for the July quarter give us even more confidence in its demand outlook,” said CFRA analyst Angelo Gino.

Measuring the Growth of the Magnificent Seven

Investors like to look at the S&P 500’s seven biggest tech stocks as a group, but each one is in its own unique situation, with Nvidia clearly the hottest.

The company’s stock is up more than 140% this year, dwarfing the rest of the Magnificent Seven. AI stock has a Composite Rating of 95, making it a growth engine. This year alone, the company’s revenue has grown 106%. That makes the remaining seven look stagnant. Overall, the seven companies’ revenues are expected to grow an average of just 24% this year.

And Nvidia remains uniquely positioned in terms of growth next year: Tesla ranks second on the Magnificent Seven fastest-growing stocks list for 2025. But it’s not far behind in second place: Analysts see the electric car maker’s revenue growing just 16.7% in 2025.

Apple at the back

Of the Magnificent Seven, only one company seems to be growing less well: Apple (AAPL), whose shares are up more than 18% this year, much to Warren Buffett’s chagrin.

But Apple’s growth is sluggish: analysts expect its sales to grow just 3.3% in 2024 and 6.7% in 2025.

It’s easy to see now why investors are so enthusiastic about Nvidia: That kind of growth is nowhere to be found, not even in the Mag Seven.

Magnificent Seven’s Fastest Growing Stocks

Based on projected revenue growth in 2024 and 2025

Company Symbol 2024 Revenue Growth 2025 Revenue Growth Nvidia NVDA 106.0% 39.1% Tesla TSLA 2.9% 16.7% Microsoft MSFT 14.6% 13.7% Meta Platforms META 19.7% 13.7% Alphabet GOOGL 13.0% 11.3% Amazon.com AMZN 10.5% 10.9% Apple AAPL 3.3% 6.7% Source: S&P Global Market Intelligence, IBD