(NASDAQ: ROKU) has had a great year. The widely followed streaming service stock has skyrocketed 133% in 2023 through Tuesday's close. Can it double again next year?

It's never an easy feat to double in back-to-back years, and some feel that even this year's beefy gains aren't warranted. A pair of analysts downgraded Roku two weeks ago, concerned that the stock's big step up this week isn't warranted. One of them even implied that Roku could be losing market share, a big deal for the top dog in its niche that has historically widened its market lead over rivals.

I'll take the other side of that argument. Roku remains one of the more promising investments for 2024. Let's go over some of the reasons why I feel that the pioneer of streaming operating systems for TVs could keep winning the year ahead.

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Source Fool.com