Amazon and Alphabet Poised for Growth, Potentially Lifting Nasdaq in 2024
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The Nasdaq has historically rebounded strongly the years following a significant decline, suggesting it could soar again in 2024.
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Amazon and Alphabet have potential to reach $2 trillion valuations if growth continues, joining Apple and Microsoft in that exclusive club.
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Amazon is positioned to benefit from growth in e-commerce, digital ads, cloud computing, and AI services. Revenue has grown nearly 17% annually recently.
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Alphabet is poised to gain from digital advertising and cloud computing, especially in AI. Revenue has expanded 20% annually over the last 3 years.
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Despite high growth, Amazon and Alphabet stocks look reasonably valued based on price/sales ratios, making them appealing long-term buys.