Stock Exchange: Google, Amazon, Tesla … Should we buy the actions of 7 magnificent again?

After a heckled first half of the year, the American tech giants start upwards, still carried by the rise of artificial intelligence. But should we really bet again on the actions of “7 magnificent”? Decryption.

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The time to get back into the wagon? After having experienced a meteoric ascent between 2023 and 2024 (156% progression in two years), the actions of “7 magnificent” have experienced roller coaster since the start of the year. These seven giants of American tech (Google, Amazon, Facebook, Apple, Microsoft, Nvidia and Tesla), which surf the trend of artificial intelligence, first experienced a fall in January, with the appearance of Chinese AI Deepseek, then again in April, like all the global budgets, following the ads of Donald Trump.

But after this zone of turbulence, the courses of these behemoths already seem to be left for the summits: “The” Magnifiment 7 “recorded a strong rebound in May, after a temporary period of underperformance earlier this year”Note Raphaël Thuin, director of capital market strategies at Tikehau Capital, on Linkedin. An ETF composed of these seven values ​​(“Roundhill Magnifice Seven”), for example 36.86% Last month. And the prospects are encouraging for Raphaël Thuin, “Given the continuation of long -term investments in the AI ​​sector”. As a bonus, some of these seven companies have valuations “Become more attractive”, Due to their decrease in January and April, “Which presents, in our opinion, attractive entry points in the next growth phase of the sector”he concludes.

Values ​​that remain expensive, in a heckled economic context

For Gabriel Karaboulad, deputy director of investments at Neuflize OBC, it is however difficult today to invest indistinctly in these seven values, which, according to him, no longer form a homogeneous whole: “Apple’s actions, Microsoft or Alphabet (mother house of Google, editor’s note) are indeed present attractive valuations thanks to the decreases suffered this year. Conversely, Meta and Nvidia actions have neutral valuation levels, we do not recommend them to purchase. Finally Tesla’s course is so linked to adventures between Donald Trump and Elon Musk that we prefer to stick to it. ” Same story for Alexandre Baradez, market analyst for the company IG: “It is necessary to handle American actions carefully, the valuation hollow has been erased, and they have become expensive again, despite the fall of April.” The Nvidia action, for example, was able to tumble up to $ 94 on April 4, and is negotiated today 142 dollarsabove its January 2 level (138 dollars).

In addition, if investment expenditure in AI should reach 333 billion dollars In 2025, “Or more than double the pre-chatgpt levels”, Note Raphael Thuin, the prospects for the rest of the economy are not in good shape. “Growth forecasts worldwide and in the United States are revised downwards, or the 7 magnificent people are very exposed to international trade. The guiding rates have also still not fallen across the Atlantic, which penalizes business investment, especially in the innovation sector. Not to mention the question of the trade war, which is not yet finished ”tempers Alexandre Baradez. According to the analyst, “You must have these values ​​in the portfolio”but it may not be relevant to Get or strengthen your positions on these actions.