3 Mega-Cap Stocks That Could Replace Tesla in the 'Magnificent Seven'

Today's latest batch of corporate earnings seems to confirm what many market-watchers already knew - artificial intelligence (AI) stocks are in, and electric vehicle (EV) stocks are out. While startup EV stocks Rivian (RIVN) and Lucid (LCID) are selling off hard in the early going after their latest quarterly reports, AI chip giant Nvidia (NVDA) continues to defy gravity after its highly anticipated Q4 results, with the shares leading today's rally on Wall Street.

Sitting out today's upside is EV giant Tesla (TSLA), whose market cap now stands at $620.3 billion - down from a peak north of $1 trillion at its highs. Today's remarkably lopsided earnings reactions could add fuel to the fire for those who argue that TSLA should be booted from the elite group of stocks known as the “Magnificent Seven," which also includes Nvidia, Microsoft (MSFT), Amazon (AMZN), Meta (META), Apple (AAPL) and Alphabet (GOOGL).