History Says the Nasdaq Will Soar in 2024. Here's the ETF to Buy Before That Happens.
Technology stocks are winning big thanks to their progress in the hot area that's grabbing everyone's attention: artificial intelligence (AI). The AI market may surpass $1 trillion by 2030, so companies are rushing to develop AI tools or platforms with the goal of benefiting over the long term. And investors are seeking out potential leaders. That's helped the tech-loaded Nasdaq Composite (NASDAQINDEX: ^IXIC) soar to new records and confirm its presence in a bull market.
If history is a guide, the Nasdaq's gains may not be over. In fact, if the index follows the pattern of the past three recovery and growth periods dating back to 2009, it may climb into the double digits this year. Last year, the Nasdaq advanced 43%, and this year it's heading for a 5.6% increase -- so there's plenty of room for gains ahead.
How can you benefit? If you select the right technology players, you could score a big victory -- but that isn't always easy. Fortunately, there's another almost effortless way to bet on the Nasdaq, and that's by investing in an exchange-traded fund (ETF) that aims to mimic its performance. Let's check out the one to buy before the Nasdaq soars higher.
Source Fool.com
