Image Source: PexelsRecently, several Mag 7 members – Tesla (TSLA – Free Report) and Alphabet (GOOGL – Free Report) – have hit fresh all-time highs, reflecting considerably bullish momentum. Stocks making new highs tend to make even higher highs, particularly when a company’s outlook remains positive.Should investors tap into the momentum? Let’s take a closer look at how each titan stacks up.

Tesla Charges Higher
 Tesla’s current momentum is undeniable, boosted by a recent set of strong quarterly results. It remains the prime selection for those seeking EV exposure, and its current favorable Zacks Rank alludes to further near-term gains.As shown below, analysts raised their earnings expectations across the board following its latest quarterly release. The stock sports the highly-coveted Zacks Rank #1 (Strong Buy).Image Source: Zacks Investment ResearchThe focal point of the quarterly print was margin expansion, with the company’s gross margin expanding to 19.8% vs. a 17.9% print in the same period last year. It’s worth noting here that Tesla also reported its lowest-ever level of cost of goods sold (COGS) per vehicle throughout the period.The profitability spike undoubtedly bodes well for the company, with shares also seeing a decent boost from the recent U.S. election results.

Alphabet Unveils Willow 
 Alphabet has found itself in the headlines following the announcement of Willow, its new quantum computing chip that boasts state-of-the-art performance across key metrics and enables major achievements in the field. Willow has the capability to reduce errors exponentially as it scales qubits higher, defeating a key challenge in quantum error correction that’s been present for nearly 30 years. Secondly, in a benchmark, Willow completed a computation in under five minutes that today’s fastest supercomputers couldn’t solve in 10 septillion years.For those curious, ’10 septillion years’ is longer than the age of the universe itself.Analysts have taken a favorable stance on the company’s earnings outlook, raising EPS expectations across the board over recent months. The growth outlook for the mega-cap tech giant also remains favorable, with current consensus expectations suggesting 40% EPS growth in its current fiscal year on nearly 15% higher sales.Image Source: Zacks Investment Research

Bottom Line
 Momentum investing is all about riding bullish trends where buyers are in control.And buyers have certainly been in control of both stocks above – Tesla and Alphabet – with shares of each soaring over the last month and hitting fresh all-time highs.More By This Author:Google Unveils Quantum Chip Willow: A Closer LookThis AI Stock Has Quietly Doubled In ValueWhat’s Going On With Lululemon Shares?