From Nasdaq:

The S&P 500 is closing out 2023 with a 24% return and the NASDAQ is up 43% for the year. Analysts are predicting a strong 2024 for tech stocks, with a projected 25% increase. Apple, in particular, is expected to continue its momentum into 2024 with a predicted growth of 48%.

Analysts believe Apple’s iPhone 15 upgrade cycle and strong performance in the Services segment will drive growth in 2024. The company is also expected to further monetize its installed base. Analysts have projected that the stock will show a growth of 30% over the next year. However, some analysts believe that the stock’s upside is capped, with a projected return of 5.5% in the next year.

For investors looking for stocks with attractive valuations, TipRanks’ Best Stocks to Buy tool offers insights and recommendations. The opinions expressed in the article are those of the featured analysts, and it’s important for investors to conduct their own analysis before making any investment decisions.



Read more: Apple Stock: Get Ready for a Strong 2024, Says Dan Ives