Amazon and Nvidia Lead Tech Stock Rebound, With Major Gains Forecast
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The S&P 500 is recovering from its bear market lows, but some "Magnificent Seven" tech stocks like Amazon and Nvidia are leading the rally.
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Amazon stock could gain 58% to $230 per share in the next 12-18 months as growth reaccelerates, according to one analyst.
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Nvidia stock could more than double to $1,100 per share as demand for AI and data centers booms, one analyst estimates.
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Amazon is poised to benefit from increased consumer spending and its leadership in e-commerce and cloud computing.
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Nvidia is dominating in AI chips and its new Hopper GPUs put it far ahead of competitors.