2 No-Brainer Stocks That Could Go Parabolic

Many tech stocks took a hit last year on news about elevated inflation, high interest rates, and the possibility of a recession. These events combined to wreck investors' confidence in the sector. But technology stocks have made a solid comeback in 2023. The newly found confidence in tech stocks explains why the Nasdaq Composite index is up nearly 30% so far this year, while the S 500 index has appreciated nearly 15%.

What's even better is that the rally in tech stocks shows potential to continue thanks to ongoing favorable economic indicators. For instance, analysts are predicting that the Federal Reserve might start cutting interest rates in 2024, a move that will help lower borrowing costs for tech companies and allow them to boost margins. Additionally, the U.S. economy has been resilient this year, and Wall Street now expects it to grow at a stronger pace than anticipated earlier.

These indicators (and others) point to now being a good time to buy shares of Nvidia (NASDAQ: NVDA) and (NASDAQ: AAPL), two stocks that are capable of going parabolic in the right financial circumstances. A parabolic move happens when the price of a stock starts moving up at a really fast pace within a short period, resembling the right side of a parabolic curve on a chart.

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Source Fool.com