From Nasdaq:

– The Nasdaq Composite has been one of the top-performing indices in 2023, with more than a 44% return as of Dec 26.
– The Select Sector SPDR Technology ETF (XLK) has gained 55% year to date, reflecting broad-based growth within the tech sector.
– Spending on AI systems is expected to accelerate in 2024 as organizations continue to leverage AI as part of their digital transformation efforts.
– Robust performances from the big tech companies have powered the index to soar this year, and the advent of generative AI has attracted investments across different industries.
– Tech stocks have benefited from the growing adoption of 5G, particularly, fixed wireless access offerings from telecommunication companies in the United States.
– NVIDIA, Meta Platforms, Crexendo, and CrowdStrike are some of the technology stocks that are set to outperform the Nasdaq this year and have plenty of room to run for day traders.

Read more: 4 Top-Ranked Tech Stocks Set to Crush Nasdaq in 2023