History Suggests the Nasdaq Could Soar in 2023, and Here's the Stock to Buy If It Does
The Nasdaq-100 index is home to 100 of the largest technology companies listed on the Nasdaq stock exchange. It had a miserable year in 2022, declining by 33% as investors trimmed their bets on the high-growth tech sector.
But based on the annual returns of the Nasdaq-100 dating back to 1986, consecutive down years are incredibly rare. In fact, the index has only fallen two years in a row on one occasion -- during the dot-com crash between 2000 and 2002.
While the current environment poses its own unique challenges like red-hot inflation and rapidly rising interest rates, there's a likelihood that, based on history alone, the Nasdaq could be set for a bumper 2023.
Source Fool.com
