"Tech Stocks Surge: Top Picks to Buy as Nasdaq Climbs to Record Highs"

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Source: The Motley Fool
"Tech Stocks Surge: Top Picks to Buy as Nasdaq Climbs to Record Highs"
Photo: The Motley Fool
TL;DR Summary

The Nasdaq-100 Technology Sector index is expected to continue its upward trajectory in 2024, bolstered by potential economic tailwinds such as interest rate cuts and AI adoption. Nvidia and Amazon are highlighted as two stocks to buy before the anticipated rise. Nvidia's growth is fueled by its dominance in the AI chip market, with substantial revenue and earnings increases, and strategic moves to secure component supplies for 2024. Amazon's growth is driven by its e-commerce and cloud computing services, with AWS poised to benefit from the surge in cloud-based AI services. Both companies are trading at attractive valuations, making them compelling investment opportunities ahead of the Nasdaq's predicted gains.

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