2024-01-26 06:23:00 ET
One of the hottest investment themes over the last year was artificial intelligence (AI). Each of the " Magnificent Seven " stocks is playing a major role in the AI movement, and helped fuel the Nasdaq Composite to a more than 40% gain last year.
Perhaps the most scrutinized company among megacap tech is semiconductor manufacturer Nvidia . In 2023, the company witnessed a record demand for its graphics processing units (GPUs) and the stock soared nearly 240%.
However, investing in individual stocks is not for everyone. Some investors prefer to take a more passive approach , such as owning index funds. If you are interested in investing in the semiconductor industry, but prefer not to choose specific equities, the VanEck Semiconductor ETF (NASDAQ: SMH) may be a suitable option.
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With All Eyes on Nvidia and Artificial Intelligence (AI), This ETF Can Help You Turn $300 Per Month Into $259,000 Without Lifting a Finger