Posted 2/19/2024, 9:47:00 AM
Goldman Sachs Bets on Mega-Cap Tech to Lift S&P 500 Target to 5,200 by 2024
- Goldman Sachs raises S&P 500 target to 5,200 for end of 2024, driven by expected strong growth from mega-cap tech stocks
- Forecast depends heavily on "Magnificent 7" stocks like Apple, Microsoft, Meta, Alphabet, Nvidia delivering earnings beats
- Nvidia earnings on Feb 15 seen as pivotal moment for market sentiment and outlook
- Goldman expects information technology and communication services sectors to see fastest earnings growth
- Upside risks include stronger U.S. economic growth and continued positive surprises from mega-caps