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The Revenue Growth of Magnificent Seven Stocks in 2024

Key Takeaways

• The Magnificent Seven stocks showed a wide range of revenue growth in 2024, from Nvidia’s NVDA impressive 114% annual surge to Tesla’s TSLA modest 1% increase.
• Amazon AMZN fell near the middle of the pack, with 11% revenue growth, but had the highest full-year revenues in absolute terms.
• META saw record revenues of $165 billion in 2024, as AI advancements boosted its digital advertising business.

The Magnificent Seven stocks raked in over $2 trillion in revenues last year, with Amazon making up nearly a third of this total.

In 2024, the e-commerce giant’s revenues hit $638 billion, rising 11% over the year. Meanwhile, Nvidia’s revenue of $131 billion ranks among the lowest across the Magnificent Seven stocks, but its triple-digit sales growth eclipses the rest.

This graphic shows the revenue growth of Magnificent Seven stocks based on their latest fiscal full-year. Data is from each company’s 10-K filing, which is their annual financial report.

Nvidia Outshines the Magnificent Seven Stocks

Today, Nvidia commands a significant moat in the semiconductor industry, with roughly 90% margins on its most sophisticated chips.

Nvidia’s next-generation Blackwell chips serve as a key revenue driver, amid demand from cloud service providers.

Fiscal year end is on Dec 31, 2024 except for Microsoft MSFT (Jun 30, 2024), Apple AAPL (Sep 28, 2024), and Nvidia (Jan 26, 2025).

Meta follows next in line, with 22% revenue growth, jumping from 16% in 2023.

Ad revenues make up the lion’s share of Meta’s revenues, while its augmented reality division contributed a slim 1%. This year, the company aims to invest up to $65 billion in AI infrastructure.

On the other hand, Tesla saw the weakest revenue growth at 1% over 2024, as annual deliveries declined for the first time, particularly in China and Europe. Year-to-date as of March 14, Tesla’s shares have slid 38%.

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