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Doorpickers
Home»Stock Market»What’s the Best “Magnificent Seven” Stock to Buy if Trump Wins in November?
Stock Market

What’s the Best “Magnificent Seven” Stock to Buy if Trump Wins in November?

October 13, 2024No Comments3 Mins Read
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In the history of the United States, only one former president who lost reelection after his first term has managed to become president again. This rare occurrence took place in 1892 when Grover Cleveland became the first and only president elected for two non-consecutive terms.

Fast forward to the present day, there is a possibility of another former president, Donald Trump, joining Cleveland in this exclusive club. Trump is currently in a tight race with Vice President Kamala Harris for the 2024 presidential election. If Trump were to be reelected, his policies could have a significant impact on the businesses of the so-called “Magnificent Seven” companies: Alphabet (NASDAQ: GOOG, GOOGL), Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), Meta Platforms (NASDAQ: META), Microsoft (NASDAQ: MSFT), Nvidia (NASDAQ: NVDA), and Tesla (NASDAQ: TSLA).

One of Trump’s major proposals that could affect the Magnificent Seven is his plan for corporate tax cuts. During his first term, Trump implemented legislation that reduced the federal corporate tax rate from 15-35% to a flat tax of 21%. If reelected, he aims to further slash this rate to 15%.

Another key aspect of Trump’s economic agenda is the imposition of tariffs on imported products. He has proposed tariffs of up to 20% on all imports, with even higher tariffs on goods from China and Mexico. Additionally, Trump plans to focus on deregulation, aiming to eliminate existing regulations and repeal certain executive orders, such as those related to artificial intelligence.

The impact of Trump’s proposed policies on the Magnificent Seven companies would vary. While lower corporate taxes could benefit all the companies, the effects of tariffs would be more significant on businesses with global supply chains like Apple. Companies that rely more on services, such as Alphabet and Meta, may be less affected by tariffs.

In terms of deregulation, cloud service providers like Amazon, Microsoft, and Alphabet could benefit from reduced AI regulations. However, Trump has been critical of certain companies within the Magnificent Seven, which could impact their operations if he were to be reelected.

Overall, when considering which Magnificent Seven stock to buy if Trump wins in November, Nvidia and Microsoft emerge as strong contenders. Both companies could be affected by Trump’s policies in different ways, but Nvidia’s growth prospects may make it the more attractive option in this scenario.

In conclusion, the potential impact of Trump’s policies on the Magnificent Seven companies is significant, and investors should carefully evaluate their options based on the specific proposals and the individual strengths and weaknesses of each company.

Buy Magnificent November Stock Trump Whats wins
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