These tech-centric stocks have had incredible runs in 2024, but there’s likely more to come.
The Nasdaq Composite (^IXIC 0.12%) has been on a roll for more than two years now, with its gains fueled by improving economic conditions, the dawn of artificial intelligence (AI), an uncontested U.S. election, and recent interest rate cuts by the Federal Reserve Bank. After rising 43% in 2023, the tech-focused index has gained roughly 31% in 2024 (as of this writing).
Yet students of market history will note that the rally likely has additional upside ahead. Going back to 1972 — the first full year in which the Nasdaq traded — in every year following gains of 30% or more, the tech-centric index has climbed 19%, on average, which suggests the Nasdaq will continue to gain ground in 2025.
Furthermore, the recent renaissance of forward stock splits has investors taking a fresh look at companies…
