2 Hypergrowth AI Stocks to Buy in 2024 and Beyond
The S&P 500 made an impressive recovery last year, rising 24% in 2023 after an economic downturn saw it plunge 19% the previous year. And the index has shown no signs of slowing in the new year.
The S&P 500 hit a new all-time high this month, closing at 4,840 on Jan. 19 and officially entering bull market territory. A bear market is typically defined as a 20% drop from recent highs, ending when stock prices reclaim that 20% and achieve a new high. A bull market could be an excellent time to expand your portfolio by prioritizing the stocks, fueling the bulk of its growth.
Over the last year, rising stock prices have been mainly attributed to a boom in artificial intelligence (AI). The launch of OpenAI's ChatGPT in November 2022 reinvigorated interest in the technology, with countless companies pivoting their businesses to the budding market. Excitement over AI will likely continue this year, indicating it's not too late to make a long-term investment in the sector.
Source Fool.com
