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There are many other attractive stocks right now besides the so-called “Magnificent Seven,” top money managers told CNBC on Thursday. The mega-cap tech stocks that make up the Magnificent Seven – Apple, Alphabet, Meta, Microsoft, Amazon, Nvidia and Tesla – each rose at least 48% last year. These account for about a quarter of the S&P 500’s total market share. These stocks still have the potential for strong growth, but the scope of the bull market should expand and other stocks should do well, says Bryn Talkington, managing partner at Lakequisit Capital Management. he said in an interview with CNBC Pro Talks’ Bob Pisani. As an example, he said software stocks such as Salesforce, which is adjacent to the Magnificent Seven, are doing well and have a “very long trajectory.” Other than that, I like the Invesco S&P 500 Equal Weight ETF (RSP) for broad access. “I bought this year because I said, ‘Hey, this is a cheap stock. I’m going to own 500 large-cap stocks. I’m just going to treat them equally,'” Talkington said. Meanwhile, Kevin Simpson, founder and chief investment officer of Capital Wealth Planning, prefers “old-school” technology names like Broadcom, Cisco, and IBM. “They made an acquisition that brought them into the 21st century,” he said. “Being able to earn very solid, consistent dividend increases while we wait for things to play out is very comfortable for us as shareholders.” Talkington also likes dividend stocks, such as energy stocks. One of her names on her list is Diamondback Energy. “This company … is a giant free cash flow yield company,” she said. Energy names owned by Simpson are Chevron and ConocoPhillips.
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