Summary: Tech stocks like NVIDIA, Dell, Alphabet, and Micron have strong growth potential. Analysis: Positive.

From Nasdaq: 2024-06-07 09:20:00

Tech stocks have been on a remarkable rally in 2023, buoyed by improving earnings and the growth potential of artificial intelligence. The Nasdaq has outperformed other major indexes this year, with over 50% of its weightage in technology stocks. Investors should consider fundamentally strong tech stocks like NVIDIA, Dell, Alphabet, and Micron. These companies have shown significant gains this year and have a favorable combination of growth and strong financial metrics. NVIDIA, for example, is benefiting from the strong growth of AI, HPC, and accelerated computing. Dell Technologies is seeing strong demand for AI servers, especially from enterprise customers. Alphabet’s robust cloud division is driving substantial revenue growth, with expanding data centers boosting its cloud presence. Micron has been on a recovery path, benefiting from improved market conditions and anticipated pricing benefits for DRAM and NAND chips in the coming year. With a favorable outlook for these companies, investors may find promising opportunities in the tech sector.



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