2023-12-27 10:22:00 ET
There's no denying the challenges investors faced in 2022, which was one of the most difficult years in decades. After shedding more than 35% in 2022, the Nasdaq Composite has come roaring back, rising 43% in 2023 as of this writing. Things have clearly taken a turn for the better.
Yet history tells us the rally is likely to continue. Going back more than 50 years, the year following a market rebound has generated additional gains of 19%, on average, for the tech-heavy index.
Most market watchers agree a major catalyst for this year's recovery was the advent of the next stage of artificial intelligence (AI) . Unlike previous advances, a broad cross-section of businesses can now benefit from the productivity gains yielded by this technology. One company that's already reaping the rewards of its AI expertise is Palantir Technologies (NYSE: PLTR) . The accelerating adoption of AI plays right to the company's strengths, representing a compelling opportunity for investors.
For further details see:
History Says the Nasdaq Will Soar in 2024: 1 Artificial Intelligence (AI) Growth Stock to Buy Before It Does