UK investors are piling into a Magnificent 7 stock and it isn’t Nvidia

Nvidia stock remains popular with UK investors and for good reason. Not only is the company generating unbelievable revenue growth but it also looks attractively valued.

Yet looking at data from investment platform AJ Bell, another Magnificent 7 stock is seeing more interest from UK investors right now. This growth stock’s well off its highs and investors are buying the dip.

The stock I’m talking about is Microsoft (NASDAQ: MSFT). It’s a global leader in business productivity software, cloud computing and artificial intelligence (AI), and video gaming.

Over the last month, it has been the fourth most bought stock on AJ Bell’s platform. The only three stocks more popular have been BP, Legal & General and Rolls-Royce – more traditional picks for UK investors.

Personally, I’m not surprised Britons are attracted to this Magnificent 7 name. Because right now, it looks a lot like Alphabet (Google) stock 18 months ago.

It went through a period where its share price was depressed due to the fact that investors thought its days as a tech powerhouse were numbered. However, since then, it’s come roaring back – more than doubling in price – as shown it’s still a major player in the tech world.

As for why Microsoft shares are depressed today, there are a few reasons. One is that it’s been dragged into the software sell-off (some investors believe that demand for its software products will decline).