Constellation Research founder and Chairman Ray Wang, who owns all seven of the Mag 7 stocks, told CNBC recently that he had been "selectively adding" to his holdings in the names.

Wang stated that he had been buying the stocks on weakness because he "really believes in the AI Revolution."

The Mag 7 consists of Nvidia (NVDA), Amazon (AMZN), Microsoft (MSFT), Apple (AAPL), Meta (META), Tesla (TSLA), and Alphabet (GOOG).

Why Wang Is Bullish on the Mag 7

The power of AI's intelligence is doubling every seven months, Wong said. At that pace, AI's intellectual capacity will soar 1,000 times in six years, he reported.

Buying AI stocks now is "like betting (on internet stocks) early in the Internet Age. Most of the winners (among those names) outdid the losers," the veteran investor said.

Additionally, the Mag 7 have "strong business models," according to Wang.

Reasons To Be Worried in the Shorter Term

Although Wang is bullish on the Mag 7 in the long term, he noted that the names "are priced to perfection" at this point.

He added that worries about tariffs have been hindering the names' performance recently.

While we acknowledge the potential of AMZN our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

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Disclosure: The author owns shares of AMZN but has no intention of trading them in the next 48 hours. This article is originally published at Insider Monkey.