A group of seven megacap technology companies, known as the "Magnificent Seven," played a central role in driving a nice surge in technology stocks in 2023, which is evident from the 66% jump in the Nasdaq-100 Technology Sector index during the year.

The Magnificent Seven group comprises Apple, Amazon, (NASDAQ: GOOG) (NASDAQ: GOOGL), Meta Platforms, Microsoft, Nvidia, and Tesla. These tech titans delivered healthy gains to investors in 2023.

For instance, shares of Alphabet have jumped 61% during the year. In this article, we will take a closer look at the reasons why Alphabet's robust rally is set to continue not just in 2024 but also in the long run.

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Source Fool.com