History Says the Nasdaq Will Soar in 2024: 1 Artificial Intelligence (AI) Growth Stock to Buy Before It Does
There's no denying the challenges investors faced in 2022, which was one of the most difficult years in decades. After shedding more than 35% in 2022, the Nasdaq Composite has come roaring back, rising 43% in 2023 as of this writing. Things have clearly taken a turn for the better.
Yet history tells us the rally is likely to continue. Going back more than 50 years, the year following a market rebound has generated additional gains of 19%, on average, for the tech-heavy index.
Most market watchers agree a major catalyst for this year's recovery was the advent of the next stage of artificial intelligence (AI). Unlike previous advances, a broad cross-section of businesses can now benefit from the productivity gains yielded by this technology. One company that's already reaping the rewards of its AI expertise is Palantir Technologies (NYSE: PLTR). The accelerating adoption of AI plays right to the company's strengths, representing a compelling opportunity for investors.
Source Fool.com
