Technology sector drives market growth with companies like NVIDIA, Ubiquiti, Celestica, and Broadcom doubling share prices.

From NASDAQ.: 2024-12-30 11:37:00

In 2024, the tech sector drove the stock market’s growth with AI advancements, cloud technology adoption, and innovation. Companies like NVIDIA, Ubiquiti, Celestica, and Broadcom saw solid returns. AI integration, network modernization, macroeconomic factors, and supply chain resiliency were key growth drivers amid geopolitical volatility.

NVIDIA, a leader in visual computing, is expanding into AI solutions and datacenters. With a Zacks Rank #2, the stock gained 176.7% in the past year. Earnings estimate for 2025 improved to $2.94 per share. Ubiquiti focuses on network solutions, with a Zacks Rank #1 and a 144.2% stock gain. Celestica, a manufacturing services company, benefited from AI demand and aerospace wins, gaining 224.8% with a Zacks Rank #3. Broadcom excelled in semiconductor solutions, seeing a 116.6% stock gain with a Zacks Rank #2.

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Read more at NASDAQ.: 4 Technology Companies That More Than Doubled Share Prices in 2024