If I Could Buy Just 1 "Magnificent Seven" AI Stock in 2024, This Would Be It
For much of last year, many investors feared the onset of a recession. But the decision by the Federal Reserve Bank to pause its interest rate increases has many on Wall Street now calling for a so-called soft landing -- or getting inflation under control without causing a recession.
There's more good news. While the Nasdaq Composite has already gained 43% so far this year (as of market close on Thursday), history suggests there's more to come. Over the past 51 years, in the year following a market recovery, the Nasdaq has surged an additional 19% on average, which suggests there's likely more gains to come.
Leading the pack this year have been the so-called Magnificent Seven stocks. Each has deep ties to artificial intelligence (AI) and all have outpaced the broader market by a country mile:
Source Fool.com
