From Nasdaq MarketSite:



Zacks.com recently announced a list of five tech stocks that are expected to rally in 2024. The tech sector has performed well in 2023, with the Nasdaq rallying 41.2% year to date as of Dec 20. The decline in inflation has also increased investors’ confidence in the sector. With the Federal Reserve expected to make multiple rate cuts in 2024, tech stocks are predicted to continue their upward trend.

The expected earnings growth rates for these tech companies in 2024 are as follows: NVIDIA Corp. at 61.5%, Intel Corp. at 97.9%, CrowdStrike Holdings, Inc. at 23.8%, Meta Platforms, Inc. at 22.7%, and Shopify Inc. at 48.6%. Each of these stocks holds a Zacks Rank #2 (Buy).

NVIDIA Corp. is known for its graphic processing unit, GPU, and success in parallel processing capabilities. Intel Corp. is the world’s largest semiconductor company and has been focusing on data-centric businesses. CrowdStrike Holdings, Inc. is a leader in next-generation endpoint protection. Meta Platforms, Inc. is the world’s largest social media platform, and Shopify Inc. provides a multi-tenant, cloud-based, multi-channel commerce platform for small and medium-sized businesses.

Investors are encouraged to consider these large-cap technology stocks, as they are predicted to perform well in 2024. The Zacks Top 10 Stocks for 2024 will be released on January 2, giving investors the chance to get in on these stocks early.



Original: The Zacks Analyst Blog Highlights NVIDIA, Intel, CrowdStrike, Meta Platforms and Shopify