Outlook For Tech Stocks in 2024

I am quoted in Techopedia:

AI is ‘A Multi-Trillion-Dollar Market Opportunity’

David Kass, a finance professor at the University of Maryland’s Robert H. Smith School of Business, offers his expert tech stock analysis and predictions. Kass provides a compelling outlook for tech stocks in an environment with lower interest rates and rapid advancements in AI.

“The outlook for tech stocks in 2024 is very bright. A combination of lower interest rates expected during the year and continued progress in these companies’ development and application of artificial intelligence (AI) should propel their shares higher.

“So far in 2024, five of the super seven are already substantially outperforming the major indexes. Those five are: NVIDIA (+10.5%), Meta Platforms (+5.8%), Microsoft (+3.3%), Alphabet (+2.1%), and Amazon (+1.8%). Two components have declined: Apple (-3.4%) and Tesla (-11.9%). Salesforce (3.5%) has also outperformed the market year-to-date, but Advanced Micro Devices (-0.6%) and Intel (-6.2%) have underperformed in 2024. However, these companies will likely achieve significant earnings growth in 2024.

“AI is a multi-trillion-dollar market opportunity in which the tech stocks mentioned here are expected to be among the key players. My predictions for individual tech stocks in 2024 include the outperformance by NVIDIA, Alphabet, Amazon, Meta Platforms, Microsoft, Apple, Salesforce, and Advanced Micro Devices. However, I am somewhat less optimistic concerning Tesla and Intel.”