--- title: "Far Ahead of the Pack: U.S. Mega Cap Tech Soars" description: "November Chart of the Month: 2023 Thanksgiving Dinner Costs vs. Inflation" image: https://insights.danainvestment.com/hubfs/2023.12%20Dana%20CotM.png --- - [Home](https://www.danainvestment.com/) - About Us - [Who We Are](https://www.danainvestment.com/who-we-are/) - [Who We Serve](https://www.danainvestment.com/who-we-serve/) - [Our Responsibilities](https://www.danainvestment.com/our-responsibilities/) - [Meet The Team](https://www.danainvestment.com/meet-the-team/) - [History](https://www.danainvestment.com/history/) - [Awards](https://www.danainvestment.com/awards/) - Our Services - [Overview](https://www.danainvestment.com/overview/) - [Equity Strategies](https://www.danainvestment.com/strategy-assignment/equity-strategies/) - [Fixed Income Strategies](https://www.danainvestment.com/strategy-assignment/fixed-income-strategies/) - [Wealth Management](https://www.danainvestment.com/strategy-assignment/wealth-management/) - 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The Magnificent 7 stocks—Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla—left the rest of the market in their dust in 2023. - While AI was the firepower behind the Mag 7’s 2023 meteoric rise, some say these market leaders are still just in the early innings of their AI journey.  - Dominant global market positions, wide competitive moats, and strong balance sheets suggest these companies will remain in 2024’s starting lineup. - Strong free cash flow and strategic reinvestment of cash also give the Mag 7 an edge: ~60% of their cash is invested in growth capex and R&D—more than 3x the amount of the other 493 S&P 500 constituents (compounded over time).  - The lesson: Don’t constrain your imagination when it comes to the power of American innovation and the rate of technological advancement.  Tags: [Chart of the Month](https://insights.danainvestment.com/chart-of-the-month/tag/chart-of-the-month) [Back to Blog](https://insights.danainvestment.com/chart-of-the-month) - 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