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The Revenue Growth of Magnificent Seven Stocks in 2024

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Key Takeaways The Magnificent Seven stocks showed a wide range of revenue growth in 2024, from Nvidia’s impressive 114% annual surge to Tesla’s modest 1% increase. Amazon 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. .key-takeaways {
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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.

CompanyAnnual Revenue
(Latest Fiscal Year)YoY Revenue GrowthPrevious Fiscal Year
YoY Revenue Growth Amazon$638B11%12% Apple$391B2%3% Alphabet$350B14%9% Microsoft$245B16%7% Meta$164.5B22%16% Nvidia$130.5B114%126% Tesla$97.7B1%19%

Fiscal year end is on Dec 31, 2024 except for Microsoft (Jun 30, 2024), Apple (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