2 Red-Hot Growth Stocks to Buy in 2024 and Beyond
The stock market may have witnessed some volatility of late, but it is worth noting that the S 500 index has clocked healthy gains of 41% since the beginning of 2023. It's thanks to a solid rally in technology stocks that outperformed the broader market on account of catalysts such as artificial intelligence (AI).
This explains why the tech-laden Nasdaq-100 Technology Sector index has outperformed the S 500 since the beginning of 2023 with astounding gains of 74%. The ability of technology companies to capitalize on disruptive trends over time, such as the internet, smartphones, video streaming, social media, and now AI, is the reason why companies in this sector tend to deliver outsized gains.
That's the reason why investors would do well to buy shares of Nvidia (NASDAQ: NVDA) and SoundHound AI (NASDAQ: SOUN) in 2024, as both companies are taking advantage of the adoption of AI in their respective industries and could turn out to be top-growth stocks in the long run. Shares of both Nvidia and SoundHound are already up 135% so far this year, and a closer look at their prospects will tell us that their bull run could be here to stay.
Source Fool.com
