Tech stocks like Amazon and Apple present investment opportunities as the market fluctuates in 2024.

From Nasdaq: 2024-07-23 04:03:00

The stock market has seen significant fluctuations in 2024, with the S&P 500 up 15% since January but down 3% since mid-July. Tech stocks, which were once a safe haven, have taken a hit as investors move towards other sectors. Companies like Amazon and Apple have seen stock dips, presenting a potential investment opportunity.

Amazon has experienced a turnaround in its business, with revenue increasing 13% in the first quarter of 2024 and operating income spiking 220%. The company has made strategic investments in AI and other growing markets, leading to significant profit growth. Amazon’s stock is currently undervalued compared to its potential, making it an attractive investment option.

Apple has announced its foray into AI with Apple Intelligence, targeting consumers with generative features like enhanced language capabilities and Siri improvements. The company’s stock has increased by 17% in recent months, offering potential for growth as it releases its newest iPhone and Q3 2024 earnings. Despite trading at a premium price, Apple’s long-term potential makes it a worthwhile investment.

Investors considering Amazon or Apple should weigh their options carefully, as there are other stocks with significant growth potential in the market. The Motley Fool’s Stock Advisor service has identified 10 stocks expected to deliver substantial returns in the coming years, offering a blueprint for successful investing. With strategic guidance and regular updates, investors can capitalize on emerging opportunities in the stock market.



Read more at Nasdaq: 2 Stocks That Can Help You to Get Richer in 2024