Posted 2/20/2024, 7:30:20 PM
Wall Street Sees Room for S&P 500 to Climb Further in 2024, Driven by Big Tech Earnings
- Wall Street raises S&P 500 targets for 2024, sees room for further gains with Goldman now at 5,200 and UBS at 5,400
- Earnings growth expected to be main driver of upside, powered by tech mega-caps like Apple and Microsoft
- Goldman expects tech and communications sectors to lead profit growth as companies focus on efficiency
- Risks remain, including sticky inflation, but higher prices could actually benefit corporate profits
- Analysts forecast over 10% earnings growth for S&P 500 in 2024, supporting case for more gains