From Nasdaq:

After a year of massive market gains, the stock market is slowing down in 2024. Investors are questioning the potential for an ongoing rally after the Nasdaq Composite soared 43% last year. However, history shows a 19% average gain after a bear market rebound for the Nasdaq. There’s a good chance the market rally will continue.

Generative AI could be responsible for the market surge. Microsoft is a company with high potential from this tech through investments in OpenAI and a 40% demand uptick for AI digitally programs. Revenue increased by 13%, while EPS by 27%. Microsoft delivers “AI services,” making it a good investment for 2024 at 36 times forward earnings.

Nvidia dominates the AI processor market, raising 350% in revenue. Their data center chip revenue has surpassed that of gaming components and the company controls 95% of the machine learning GPU market. Despite its impressive performance, Nvidia is trading at a reasonable PEG ratio of less than 1, making it an undervalued stock.



Read more: History Suggests the Nasdaq Will Soar in 2024: 2 Brilliant Artificial Intelligence (AI) Growth Stocks to Buy Before It Does