A Bull Market Is Coming: 1 Stock Split AI Stock to Buy in 2024 and Hold Forever
It is impossible to predict the future of the stock market. However, certain patterns tend to repeat over time. For example, since 1971 the NASDAQ Composite has surged an average of 19% every year following a bear market rebound like the one we experienced in 2023. If that pattern holds, investors could be on the cusp of another bull run.
Let's explore why the tech giant Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) could be a great way to bet on a continued market rally, especially as it invests in new growth opportunities related to generative artificial intelligence (AI).
In July 2022, Alphabet completed a massive 20-for-one stock split that took its stock price to around $110 per share. The move came at a difficult time for the company as rising interest rates and fears of a U.S. recession put a damper on the digital advertising industry, which makes up roughly 80% of its revenue. The good news is that these macroeconomic issues could fade as inflation falls and the market becomes more optimistic that the Federal Reserve will ease its hawkish monetary policy.
Source Fool.com
Alphabet Inc. A Stock
The stock is an absolute favorite of our community with 93 Buy predictions and no Sell predictions.
As a result the target price of 178 € shows a slightly positive potential of 13.15% compared to the current price of 157.32 € for Alphabet Inc. A.
