A recent analysis highlights the 'Magnificent Seven,' a group of seven tech stocks that have significantly influenced the U.S. market in the early 2020s.

This group includes Nvidia, Microsoft, Apple, Amazon, Alphabet, Meta Platforms, and Tesla.

Nvidia currently stands as the world's largest company by market capitalization, driven by its booming GPU business, which experienced a remarkable 69% year-over-year growth in the first quarter.

Alphabet's Google Search revenue also saw a 10% increase in the first quarter, positioning the company well with its AI tools and a favorable price-to-earnings ratio that suggests potential for stock appreciation.

Meanwhile, Meta Platforms is making significant investments in AI to enhance its advertising capabilities on platforms like Facebook and Instagram, attracting top talent in the field.

Looking ahead, analysts predict that Nvidia, Alphabet, and Meta Platforms will outperform the market, despite a potential decline in dominance for some of the other stocks in the group.