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2024/03/13 / Erste Group Research

Magnificent 7 mit starkem Momentum

Empfehlungsänderungen: Imperial Oil, Uber Technologies, Deutsche Bank, Booking Holdings, UnitedHealth Group

Der S&P 500 Index haussierte zuletzt auf ein neues All time-High und erreichte seit Jahresbeginn jetzt einen Anstieg von +9%. Ein großer Teil des Aufwärtstrends ist dabei auf die starke Performance der sogenannten Magnificent 7 Aktien zurückzuführen. Es handelt sich um die Aktien von Microsoft, Apple, NVIDIA, Amazon, Alphabet, Meta und Broadcom. Summiert erreichen sie mit einer Marktkapitalisierung von USD 13.200 Mrd. eine Gewichtung von 28% im S&P 500 Index. Diese sieben Technologieaktien sind seit Jahresbeginn alleine um +14% angestiegen und somit durch ihre hohe Gewichtung für den Anstieg des Gesamtindex maßgeblich verantwortlich.

Die Bewertung der Magnificent 7 ist dabei seit Jahresbeginn zudem gefallen. Lag das gewichtete KGV für das Kalenderjahr 2024e zu Beginn des Jahres noch bei 31x fiel es jetzt auf 29x. Der Grund ist, dass die Konsensus-Gewinnprognosen noch stärker angestiegen sind als die Kurse der Aktien. Die hohen Wachstumszahlen in den 4Q23 Ergebnissen und die starken Guidances der Firmen für das heurige Jahr waren unserer Ansicht nach die gerechtfertigten Gründe für die angehobenen Prognosen. Der hohe Bedarf nach Hard- und Software mit Fokus auf KI-Solutions wird in den kommenden Jahren anhalten und die Magnificent 7 haben Geschäftsmodelle die Nachfrage zu monetarisieren.

Holcim: Nach Rekordergebnis Dividende +12% erhöht und CHF 1 Mrd. Buyback angekündigt. Solide Guidance 2024

Broadcom: Hohe Margen- und Gewinnsteigerung auch im 2Q

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General information

AuthorErste Group Research
Date2024/03/13
Languagede
Product nameEmpfehlungsliste
Topic in focusEquities
Economy in focusEurozone, Germany, United Kingdom, United States
Currency in focusBritish Pound, Euro, US Dollar
Sector in focusAutomobiles & Parts, Banks, Basic Resources, Chemicals, Construction & Material, Financial Services, Food & Beverage, Health Care, Industrial Goods & Services, Insurance, Media, Oil & Gas, Personal & Household Goods, Retail, Technology, Telecommunications, Travel & Leisure, Utilities
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Erste Group related products

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Name  ISIN# Erste Group products
-CA45303840860
-US90353T10070
ABBCH00122217160
Abbott LaboratoriesUS00282410000
AbbVieUS00287Y10910
AdidasDE000A1EWWW032
AdobeUS00724F10120
Advanced Micro DevicesUS00790310780
AlibabaUS01609W10270
AllianzDE000840400533
AlphabetUS02079K30590
Amazon.ComUS02313510671
AmgenUS03116210090
Anheuser Busch InbevBE09742932510
AppleUS03783310050
ASMLNL00102732150
AT&TUS00206R10230
Banco Santander ES0113900J370
Bank of America US06050510460
BASFDE000BASF11131
BeiersdorfDE000520000026
BHP GroupGB00BH0P3Z910
BMWDE000519000336
BNP ParibasFR00001311040
Booking HoldingsUS09857L10890



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