Posted 11/27/2023, 1:06:00 PM
Big Tech Stocks Soar in 2023, Outpacing Broader Market by Double
- US stocks, led by big tech, are the top performing major asset class in 2023, up over 19% year-to-date.
- Tech stocks like Microsoft, Apple, and Nvidia are up 49% this year, over double the broader US market.
- Big tech is driving US market outperformance compared to equal-weighted benchmarks.
- Goldman Sachs strategist predicts big tech will continue to lead in 2024 due to higher expected sales growth.
- Investors now betting on Fed rate cuts in 2023, which could further boost big tech stocks.