Summary: Trump's policies may impact tech companies like Alphabet, Amazon, and Tesla

From NASDAQ: 2024-10-13 04:49:00

Former President Donald Trump is running for reelection in 2024 and is neck-and-neck with Vice President Kamala Harris. If elected, his policies could impact the businesses of the “Magnificent Seven” tech companies: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. Trump’s proposals include corporate tax cuts, tariffs on imported products, and deregulation.

The impact of Trump’s proposed corporate tax cuts on the Magnificent Seven may not be as significant as expected, as none of these companies currently pay the 21% federal tax rate in place now. Steeper tariffs could affect companies with global supply chains like Apple. On the other hand, reduced AI regulations could benefit cloud service providers like Amazon, Microsoft, and Alphabet.

Nvidia could be the best Magnificent Seven stock to buy if Trump wins in November, as it has strong growth prospects and could benefit from Trump’s proposed policies. While Microsoft could also benefit from corporate tax cuts, Nvidia has a higher potential for growth. The Motley Fool is issuing “Double Down” stock alerts for potential investment opportunities in companies that are about to pop.



Read more at NASDAQ: What’s the Best “Magnificent Seven” Stock to Buy if Trump Wins in November?