From Nasdaq:

In 2023, tech stocks performed well, with the Nasdaq Composite outperforming other major U.S. stock market indexes. Google parent company, Alphabet, saw a strong rebound, while online learning company Chegg struggled. Analysts predict continued growth for Alphabet in 2024, with several important long-term growth opportunities.

Alphabet faced challenges entering 2023, but rebounded as the advertising market and revenue growth rates improved. Analysts predict the advertising market will rebound even faster in 2024, along with long-term growth opportunities in streaming, cloud computing, and AI, making it a solid tech stock to buy.

Chegg is facing struggles with generative AI applications like ChatGPT, leading to decreased revenues and subscribers. The company’s reliance on human experts may not be enough to overcome these challenges, so it’s best to avoid the stock for now.

The Motley Fool just identified 10 best stocks for investors to buy now, and Alphabet was not one of them. The Motley Fool Stock Advisor service has more than tripled the return of S&P 500 since 2002, providing guidance on building a portfolio, with two new stock picks each month.



Read more: 1 Tech Stock to Buy for 2024, and 1 to Avoid Like the Plague