Sizzling hot. Those two words accurately describe the performances of the Nasdaq Composite and the Nasdaq-100 last year. The latter index, which comprises the 100 biggest non-financial Nasdaq stocks, delivered its best return since 1999 in 2023.

What's in store for this year? History suggests that the Nasdaq will keep soaring in 2024. Here's the surprising megacap stock that Wall Street thinks will be the biggest winner.

Believe it or not, none of the "Magnificent Seven" stocks that ruled the market in 2023 are high on Wall Street's list for 2024. Nvidia's shares skyrocketed 239% last year. Analysts' consensus 12-month price target for the GPU giant is now below its current share price.

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Source Fool.com