Tech Stocks Soar to Record Highs in 2024 on AI Optimism
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The stock market is at record highs in early 2024, fueled by optimism around AI and companies like Nvidia, Microsoft, and Meta Platforms.
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Meta Platforms is seen as a breakout stock after shares surged 18% following a surprise dividend in its latest earnings report.
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Nvidia stock is up nearly 50% year-to-date, briefly becoming more valuable than Amazon and Alphabet.
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Arm Holdings, a semiconductor company, is up over 140% since its IPO due to AI-related orders and its relationship with Nvidia.
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Top breakout stock picks include Salesforce, Nvidia, Adobe, KKR & Co, and Fiserv based on hedge fund holdings and sentiment.