Big Tech Stocks Poised for AI-Fueled Growth in 2024
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The "Magnificent 7" stocks including Microsoft, Amazon, Meta, Apple, Google, Nvidia, and Tesla significantly outperformed the market in 2023, partly fueled by AI developments.
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Experts anticipate continued AI-driven growth in 2024 for Microsoft, Amazon, Google, Meta, and Nvidia based on ongoing and future AI projects.
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Microsoft is seen as a leader in AI through its partnership with OpenAI, while Google launched AI models like Bard and Gemini.
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Amazon and Nvidia also made big strides in AI in 2023 through new offerings and chips optimized for AI.
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While Apple has been quieter on the AI front, analysts still expect a profitable 2024 driven by iPhone sales and services growth.