The Magnificent 7 stocks on the US stock market have had a tough start to 20205. Following a prosperous 2024 for gains and investments, most of the top gainers are starting the year off slowly. Among the Mag 7, Nvidia (NVDA) and Amazon (AMZN) are still the premiere choices to watch in January, as both are projected for a big year.

Following its tough start to the year, NVDA is up 3% in the last five days. The stock is recovering from its recent Blackwell chip launch event, where on the day after, NVDA had its worth day in months shares price-wise. Amazon, year-to-date so far, has gained less than 1%.

Investors Still See Amazon and Nvidia Leading Magnificent 7 Stocks this Month

Despite the slow starts, investors are still prioritizing Nvidia and Amazon as top Mag-7 stocks in January. For Amazon, two factors in particular could drive AMZN stock ahead this year, according to Jason Brown from The Brown Report. The analyst suggests that Amazon’s AWS and e-commerce growth are the two key catalysts for AMZN stock performance in 2025. “AWS revenue grew 19% to $27.5 billion, and their advertising generated about $14.3 billion, a 19% increase,” Brown said back in November. “If you take AWS and their advertising services together, they’re just shy of $50 billion, which is nearly 50% of North American sales in total. They have another growth engine outside of the eCommerce platform. While dominating eCommerce, this additional growth engine bodes well for the stock.”

Also Read: Tesla Falls Below $400: Why Experts Say TSLA Has 33% Upside

For Nvidia, its leadership and stronghold on the growing AI industry in 2024 isn’t expected to let up in 2025. Despite a slow start, NVDA stock is still expected to climb in the opening months of 2025. Based on analysis from 40 Wall Street financial strategists, leading stock market price prediction firm TipRanks concluded that Nvidia stock could surge to a maximum high of $220 in 2025. That’s an uptick and return on investment (ROI) of approximately 57% from its current price of $140. Moreover, the analysts wrote that the average trading price for NVDA stock this year could be around the $177 level. That’s a surge of approximately 27% from its present price range.

Out of the Magnificent 7 US stocks, Nvidia and Amazon will likely be the first stocks to take a major jump after the opening 2025 slump.