The index outperformed in 2023 with an impressive gain of 68%. Tech stocks once again dominated the market thanks to favorable economic growth as well as the artificial intelligence (AI) gravy train.
The good news is that the Nasdaq-100 is poised to soar in 2024 thanks to a possible interest rate cut by the Federal Reserve, a low probability of a recession, cooling inflation and the rapid adoption of AI, which is likely to get some big help . Tech names maintain their stellar growth.
Adoption of generative AI helped accelerate Nvidia's growth in 2023 and send its shares soaring. The chip giant's big jump seems justified, as its dominant control over the AI ââchips market has led to big growth in its revenue and earnings over the past few quarters.
#nasdaq-100-technology-sector-index #tech-stock #2023-perform #2024-outlook #ai-adopt #nvidia #amazon
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