Tech Stocks Poised for Rebound in 2023 Driven by AI, Cloud Growth
-
The Nasdaq has historically rebounded strongly the year after a downturn, suggesting potential for further gains in 2023.
-
The "Magnificent Seven" tech stocks like Nvidia, Meta, Tesla, etc. have massively outperformed the broader market.
-
Microsoft is poised to profit immensely from the AI boom through products like Copilot. Analysts estimate $25B-$100B in potential incremental revenue.
-
Microsoft Azure Cloud's growth is accelerating, taking market share from AWS and Google Cloud, partially thanks to AI services.
-
Other growth drivers like the PC market rebound and increased demand for Microsoft's SaaS offerings could also boost growth.