Tech stocks have had a blowout 2023, with the Nasdaq Composite up more than 40%, and the Magnificent Seven – Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon.com (AMZN), Meta Platforms (META), Nvidia (NVDA), and Tesla (TSLA) – averaging a better than 100% return, Eric J. Savitz writes in this week’s edition of Barron’s. The rally had three drivers: expectations for a Federal Reserve pivot; a new commitment to cost-cutting from the tech world; and artificial intelligence. The author believes all three of those factors will drive tech stocks higher again in 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AAPL:
- More Chinese agencies banning Apple iPhone use for work, Bloomberg says
- Apple, Corellium settle copyright dispute, Forbes reports
- MSFT vs. AAPL: Which Stock Has More AI Upside Potential?
- SpaceX gets U.S. OK to test direct-to-cell calls via Starlink, Bloomberg says
- Notable open interest changes for December 14th
