2024-07-04 08:00:00 ET
After a rebound year in 2023, the tech sector continued its momentum through the first half of this year. Notable tech-heavy indexes like the Nasdaq Composite and Nasdaq-100 are up around 20% and 19%, respectively, largely due to the growth of big tech stocks.
Like most stocks associated with artificial intelligence (AI) , Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) has benefited from the technology's ushering into the mainstream. Alphabet's stock is up close to 32% this year and reached a new all-time high in late June.
When stocks are flirting with peaks, many investors become hesitant, fearing a correction could be in the works. Whether that happens remains to be seen, but as a long-term investor , I'm doubling down on Alphabet, and here's why.
For further details see:
Alphabet Stock Soars to New Peak. Here's Why I'm Doubling Down.