Wall Street Bets on Tech Giants to Power Markets Despite Recent Stumbles
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Despite recent stumbles, Wall Street analysts remain bullish on mega-cap tech stocks like Apple, Tesla, and Nvidia leading markets in 2024.
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While facing some headwinds like slowing iPhone sales, Apple and others have strong upside from cloud computing demand.
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Fall sell-offs historically lead to year-end rallies, suggesting more gains ahead for tech winners like the 'Magnificent 7'.
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Regulatory scrutiny poses some risk, but tech giants' market power and world-changing innovation should preserve dominance.
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With few appealing alternatives, Wall Street experts still see tech giants as 'highest conviction' bets compared to defensive stocks.