These 4 Crypto-Related Stocks Outperformed the Year's First 7 Tech Returns
Tech Returns Thus Far This YearA group of stocks with a focus on cryptocurrencies has had significant price increases over the last year, far surpassing the expansion of the "Magnificent 7," a grouping of widely held top technology companies.
The tech behemoths are credited with boosting the markets this year, especially by leveraging the increasing interest in large language models (LLMs) and generative artificial intelligence (AI). But the rebound in cryptocurrencies has driven some of the fastest-rising stock values as investors redouble their hopes for the approval of a bitcoin exchange-traded fund.
Riot Platforms Inc. (RIOT), a bitcoin mining and infrastructure company, has had a 364% increase in shares this year, while Coinbase Global (COIN), a virtual currency exchange, has seen a 325% increase in stock price during the same period. Marathon Digital Holdings Inc. (MARA), a cryptocurrency mining company, and the blockchain ecosystem have both increased by 378%. The cloud services and mobile software provider MicroStrategy Inc. (MSTR), which has made significant investments in Bitcoin recently, is up 306%. CoinDesk one. "Michael Saylor's Bitcoin Bet Profit Tops $2B." 
These businesses, whose stock values are already quite high, have had a surge in the last 12 months following drops in 2022. 4 However, none of the Magnificent 7 stocks have outperformed the four companies that specialize in cryptocurrencies. Nvidia and Meta are this year's top-performing Magnificent 7 companies, having increased by 232% and 164%, respectively. The demand for Nvidia's graphics processing units (GPUs) was fueled by generative artificial intelligence (AI) initiatives, which tripled revenue in the most recent quarter. 5. In recent quarters, Meta has slashed expenses, increased outlook, and surpassed analyst earnings projections. Six CNBC. "Meta’s Stock Just Wrapped Up Its Ninth Straight Monthly Gain as Wall Street Cheers Cost Cuts."
While Nvidia and Meta are the closest to the gains of the most actively traded cryptocurrency companies, the rallies in the majority of other well-known tech stocks have been insignificant in contrast. Over the past year, Microsoft has increased by 56% and Amazon by 71%. Google has increased its value by 52% year to far, and Apple has increased its stock by 56%, making them the least successful of the Magnificent 7.
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