The Magnificent 7 + 1

We are one month into Q32024, and with-it multiple preliminary analysis on the financial health of key corporations, particularly the so-called “Magnificent 7”, a handful of high tech companies, amongst which you can find Apple, Tesla, and Nvidia amongst others.

Corporations like Nvidia and Meta have outperformed companies such as Amazon and Microsoft, whilst Apple and Tesla are still falling behind. Surprisingly, there’s one company that seems to be doing much better than former stock market darlings, and whose performance has perplexed analysts and consumers alike: Abercrombie & Fitch. Yes., you read that right. THAT Abercrombie & Fitch. The retailer best known for its good-looking sales staff and overpowering store scent.

A&F is increasingly utilizing AI tools to design their collections and product range, which seems to be more than enough of a reason to include in the list.

A strong holiday season last year was responsible for driving A&F’s fourth quarter sales to its highest in some time, and retailer is expected to hit USD 5 billion in sales by 2025.

Considering that Abercrombie & Fitch has outperformed Nvidia in the last two months, perhaps now is the time to diversify our portfolio, and start investing in A&F. Did anyone say nostalgia stock picks?