From Nasdaq:

The Nasdaq Composite is projected to soar higher in 2024 based on its historical performance. After annual losses, the index has gained at least 56% over two years. This pattern, observed since its launch in the early 1970s, could mean another double-digit increase this year. Investors should focus on companies leading in AI, a market expected to reach over $1.3 trillion by 2030. Two top companies in this space are Nvidia and Alphabet.

Nvidia, a leader in gaming and graphics, has seen its sales and share price soar in recent years due to its powerful GPUs. The company’s chips are critical tools in AI and are being utilized in industries such as healthcare and automotive. Nvidia holds over 80% of the GPU market, meaning it is likely to continue dominating despite growing competition. The company’s strong financials, earnings growth, and market leadership position it as a top stock to buy before the Nasdaq surges in 2024.

Alphabet, primarily known for its popular search engine Google, dominates the search market with over 90% share. The company’s consistent investment in AI to enhance its search capabilities is expected to maintain its dominance. With the launch of Gemini, its largest AI model, Alphabet is further solidifying its position in the AI space. The company has a track record of earnings growth and managed to maintain revenue growth despite a decrease in advertiser spending. Therefore, should the Nasdaq rise in 2024, Alphabet could be among the leading stocks contributing to the growth.

Investors seeking to gain from the forecasted surge of the Nasdaq should consider leveraging the potential of top AI companies like Nvidia and Alphabet. These companies offer exciting growth prospects due to their dominant positions and advances in AI technology, making them top stocks to watch before the anticipated rise of the Nasdaq.



Read more: History Says the Nasdaq Will Roar Higher in 2024: 2 Revolutionary AI Stocks to Buy Before It Does