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Investors Business Daily
Investors Business Daily
Business
MATTHEW GALGANI

Apple, Microsoft — Even Tesla — Eat This Non-Mag 7 Stock's Dust

So far this year, Nvidia and Meta Platforms have delivered the biggest gains among the Magnificent Seven stocks. But one non-Mag 7 stock — Costco Wholesale — has outpaced Amazon.com, Tesla, Alphabet, Apple and Microsoft.

And now Costco stock looks to extend its lead as it breaks out into buy range. Since January, Costco has outpaced all the Magnificent Seven members, except Nvidia and Meta.

As of Friday's close, the retail giant is up 43% for the year. While not a flashy artificial intelligence play in the vein of Nvidia, Microsoft, Google, Apple and others, Costco's recurring membership fees help drive steady and reliable growth. That has been the secret sauce behind the retailer's great success in past bull markets.

A strong B+ Accumulation/Distribution Rating — which Tesla shares — points to clear demand for Costco stock. Only Amazon tops them with a grade of A-.

Company Symbol % Gain YTD* Comp Rating EPS Rating RS Rating SMR Rating A/D Rating
Nvidia 198% 97 99 97 A D
Meta Platforms 67 96 96 85 A B-
Costco Wholesale 43 85 86 82 B B+
Amazon.com 37 94 79 80 A A-
Tesla 29 88 77 95 B B+
Alphabet 28 94 97 67 A B
Apple 18 86 90 65 A D-
Microsoft 12 68 90 44 A C
*Year-to-date gains as of Nov. 8, 2024

Costco Stock In Buy Range Near Record High

Continuing this year's impressive ascent, Costco stock has just cleared a 923.83 buy point in a second-stage flat base. It retreated 1% in light volume on Monday but remains within the buy zone, which extends to 970.02.

Strong upside volume kicked in as Costco stock prepared and launched its breakout, another sign of investor enthusiasm for the move.

Meanwhile, Nvidia and Meta trade near their all-time highs as both eased lower Monday. With its relative strength line soaring, Tesla is on the rise as it eyes the record high it reached in 2021. After spiking 29% last week, the electric vehicle maker rose over 8% on Monday.

Like Costco, Amazon is in buy range, while Google nears a buy point. Apple has retreated from its recent breakout, while Microsoft fights to hold support at its 10-week line. Both Apple and Microsoft now trade below their 50-day moving averages.

Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.

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