Nasdaq Poised for 2024 Rebound Driven by AI Momentum, With Nvidia, Super Micro and Meta as Stocks to Watch
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The Nasdaq Composite index could surge again in 2024 based on historical patterns following major drawdowns.
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Momentum in artificial intelligence (AI) advancements helped drive the recent market rally. Stocks leveraged to AI growth could continue performing well.
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Nvidia is a top AI chipmaker that saw triple-digit revenue growth and has potential for unprecedented momentum.
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Super Micro Computer sells servers for AI computing and is guiding for over 200% year-over-year revenue growth next quarter.
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Meta Platforms has rebounded over 160% in the past year as cost cuts returned it to high profitability, while user growth continues.