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Major changes have occurred in MarketBeat’s Most Upgraded Stocks list following the FQ2 earnings reports, indicating renewed analyst favor for AI market leaders. Notably, five of the Magnificent Seven stocks, including NVIDIA (NASDAQ: NVDA) and Oracle (NYSE: ORCL), now represent over 30% of the S&P 500 (NYSEARCA: SPY) index. These stocks are seeing significant bullish revisions, reflecting a strengthening outlook for the index.
Alphabet (NASDAQ: GOOGL) stands out as the most upgraded stock with 44 bullish revisions in the 90 days leading to mid-September, driven by strong performance and favorable antitrust rulings. Meta Platforms (NASDAQ: META) follows closely with 43 positive revisions, indicating a potential for a 25% gain at the high end. Meanwhile, Amazon (NASDAQ: AMZN) received 37 positive updates, with analysts raising their price target by 12%. Finally, Oracle’s stock is on track for a trillion-dollar valuation, needing a 15% increase after rising 30% in a month.
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