Nvidia and Tesla Are Starting to Puncture Tech’s Power Play
Back in 2015 Elon Musk, co-founder and chief executive officer of Tesla Motors Inc., spoke to Jensen Huang, chief executive officer of Nvidia Corp., saying we’ll “take autonomous cars for granted” in a short period of time. Nvidia has transformed itself since then but Tesla hasn’t.
Photographer: David Paul MorrisNvidia Corp. and Tesla Inc. stood out in what was a stellar earnings season for most of the US technology megacaps. The two companies are outliers in more ways than one among the so-called Magnificent Seven tech stocks.
That’s how Segal Macro Advisors described the biggest technology companies in 2023 — that’s when the Magnificent Seven title was conceived to describe the largest and fastest growing US technology companies. The appeal of safety — typically reserved for AAA-rated bonds — isn’t usually cited for high-growth stocks. Segal’s analysis was framed as a question: “Is Mega-Cap Tech a Safe Haven or a Bubble?,” ultimately concluding that big tech would be a port of safety when the seas turned rough.