2 Blue Chip Stocks to Buy Hand Over Fist Before the Nasdaq Surges in 2024
The technology-heavy Nasdaq Composite gained some 43% in 2023. And investors are hopeful it will rally further as excitement continues to increase around generative artificial intelligence (AI) technologies. Expectations about interest rate cuts should also push up the Nasdaq in 2024.
Against this backdrop, it makes sense for retail investors to consider picking up small stakes in high-quality blue chip stocks that are already riding robust secular tailwinds ahead of this potential rally. Here's why (NASDAQ: MSFT) and Advanced Micro Devices (NASDAQ: AMD) fit the bill.
For a long time, Microsoft has been widely famous for its Windows operating system and its Microsoft Office productivity suite. But lately, the company has also become famous for its Azure cloud computing platform and $13 billion investment in OpenAI (developer of the famous chatbot ChatGPT).
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 114 Buy predictions and 3 Sell predictions.
With a target price of 424 € there is a slightly positive potential of 13.34% for Microsoft Corp. compared to the current price of 374.1 €.
