The Nasdaq-100 Has Soared 40% in 2023, but History Says It's Not Done -- 2 AI Stocks to Buy Right Now
The Nasdaq-100 index is home to 100 of the largest publicly listed technology companies on the exchange. As a result, it's often used as a barometer for the tech sector's performance. It has surged 40% so far in 2023, marking a powerful recovery after its 33% plunge last year.
But historical data suggests the index could continue to climb for the remainder of 2023. Since 1986, the Nasdaq-100 has only slumped in consecutive years on one occasion: during the dot-com tech bust from 2000 to 2002. After its other three annual declines -- in 1990, 2008, and 2018 -- the index immediately bounced back with a positive gain the very next year.
That bodes really well for 2023, but it gets even better. The average return in those rebound years was 52%. Given that the Nasdaq-100 is only up 40% in 2023 so far, that suggests there's potentially more upside on the table.
Source Fool.com
