History Says the Nasdaq Will Roar Higher in 2024: 2 Revolutionary AI Stocks to Buy Before It Does
The past isn't exactly a crystal ball. But sometimes, a look back in time can offer us clues about what might happen in the future. You can apply this to investing by looking back at an index's past performance and noticing patterns that may repeat themselves today or in the future. And by doing this right now, you'll see history calls for the Nasdaq Composite to roar higher in 2024.
Since the index's launch in the early 1970s, as part of every rebound from an annual decline, it's gained for at least two consecutive years. And after each annual loss of 10% or more, the Nasdaq climbed an average of 56% over those two years. Considering the Nasdaq advanced 43% last year, if the index follows its routine of the past, it could be heading for another double-digit increase in 2024.
How could you as an investor benefit from a soaring Nasdaq? By investing in companies that contribute the most to the index's movement -- such as the top 10 most heavily weighted in the index -- and then narrowing that down to companies offering exciting growth prospects now. And that brings me to two companies set to lead in artificial intelligence (AI), a market forecast to reach more than $1.3 trillion by 2030. Let's check out two revolutionary AI stocks to buy before the Nasdaq rockets higher.
Source Fool.com
