From Nasdaq: 2024-06-06 06:15:00

In 2022, the Nasdaq Composite dropped by 33% due to macroeconomic challenges post-COVID, impacting tech stocks heavily. However, in 2023, the index surged by 60%, driven by economic recovery and excitement over emerging markets like AI, resulting in a 7% increase since 2021.

Despite setbacks in 2022, tech giants AMD and Amazon saw stock declines of 55% and 50%, respectively, followed by surges of 158% and 110% since then. Both companies exhibit a history of long-term growth potential and are well-positioned to benefit from tech advancements like AI.

AMD has experienced phenomenal growth, with CEO Lisa Su leading a successful turnaround with Ryzen CPUs. The company’s expansion into AI and GPU markets has positioned it for further growth, making it an attractive long-term investment despite its premium stock price.

Amazon faced challenges in 2022 but rebounded in 2023, posting strong first-quarter results with revenue hitting $143 billion and significant growth in e-commerce and advertising services. Its cloud division AWS also saw impressive revenue growth, solidifying its status as a top growth stock with a promising future in AI.



Read more at Nasdaq: 2 Growth Stocks That Are Screaming Buys in June