C - History Says the Nasdaq Will Soar in 2024: 1 'Magnificent Seven' Stock to Buy Before It Does
2024-01-02 08:50:00 ET
The investing conditions that characterized 2022 were among the most challenging in recent memory, but the economic landscape has shifted. After plummeting more than 35% in 2022, the Nasdaq Composite came roaring back in 2023, up 43%.
Yet history says the rally could continue into 2024. Records going back to 1972 -- the first full year the Nasdaq traded -- show that in every year following a market rebound, the tech-heavy index has risen 19%, on average, which suggests there could be more to come. The economy remains the wild card, and things could certainly change for the worse, which is something to keep in mind.
Helping propel the market gains this year are a group of investor favorite stocks collectively known as the "Magnificent Seven," which have outperformed the broader market by a landslide:
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History Says the Nasdaq Will Soar in 2024: 1 'Magnificent Seven' Stock to Buy Before It Does