2 Overheated Stocks That Could Tumble in 2024
No one can predict what the stock market, or any individual stock, will do in 2024. The stock market surged in 2023, which was probably not on many investors' bingo cards in January. But one thing investors can do is avoid investments where the odds are stacked against them. Paying too high a price for even the best company can lead to subpar results.
Two stocks that look far too expensive going into 2024 are Nvidia (NASDAQ: NVDA) and (NASDAQ: AAPL).
Nvidia is the leader of artificial intelligence. The company's data center GPUs are selling faster than they can be made. Training advanced large language models, like those that power ChatGPT, requires incredible computational horsepower. Nvidia's proprietary CUDA compute platform has been around since 2007, pairing with its world-class hardware to create a competitive advantage that has been difficult for anyone to overcome so far.
Source Fool.com
Apple Inc. Stock
Currently there is a rather positive sentiment for Apple Inc. with 105 Buy predictions and 8 Sell predictions.
With a target price of 208 € there is a slightly positive potential of 3.71% for Apple Inc. compared to the current price of 200.55 €.
