Magnificent Seven poised for technical breakout despite Dow struggles, Oppenheimer says
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Oppenheimer Asset Management sees a positive outlook for mega-cap technology stocks, particularly the Magnificent Seven, despite the Dow's struggles. The firm notes improving technical momentum among these stocks, suggesting continued investor interest in growth equities. Oppenheimer plans to adjust its portfolio by reallocating capital towards less extended Magnificent Seven names like Apple, Nvidia, Alphabet, and Amazon, while trimming oversized positions. Year-to-date performances show significant gains for these companies.
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