History Says the Nasdaq Will Roar Higher This Year. My Top Growth Stock to Buy Before It Does.
The climbed to a new record high this year as investors piled into growth stocks, particularly those in the area of artificial intelligence (AI). This confirmed that the index was in a bull market, an investing environment favoring growth companies. And this momentum may just be getting started for two reasons.
First, the AI market is in its early days, with analysts predicting a double-digit compound annual growth rate over the next few years and a market surpassing $1 trillion by 2030. Many companies aim to get in on the AI story to either streamline their own operations or sell AI products and services to others.
The desired result? A boost in earnings. Investors today and in the coming years want to get in on these growth stories, too, and that could lift these companies' shares, along with the Nasdaq.
Source Fool.com
