GNAI Visual Synopsis: A scene depicting a thriving technology industry with people engaging with cutting-edge devices, symbolizing the potential growth and innovation in the Big Tech sector.
One-Sentence Summary
As 2023 comes to a close, investors are looking to the future and considering which Big Tech companies, including Advanced Micro Devices, Taiwan Semiconductor Manufacturing Company, and Salesforce, are likely to outperform the Nasdaq in 2024. Read The Full Article
Key Points
- 1. The Nasdaq has returned over 36% and a new inflation report indicated stabilized U.S. inflation, potentially prompting a market rally as the year ends.
- 2. Advanced Micro Devices (AMD) is entering the AI semiconductor chip race, positioning itself to capture market share from competitor Nvidia with its MI300x GPU chipset and $2 billion AI chip sales expectation for next year.
- 3. Taiwan Semiconductor Manufacturing Company (TSMC) specializes in advanced chip manufacturing for AI, with recent positive market news indicating potential share price appreciation in 2024.
- 4. Salesforce, a leading provider of cloud-based CRM solutions, faces macroeconomic challenges but is expected to benefit from improved economic conditions in 2024.
Key Insight
Investors are eyeing potential market-beating returns in 2024 from Big Tech companies such as AMD, TSMC, and Salesforce, given their strategic positions in the semiconductor and cloud-based software industries.
Why This Matters
With the Nasdaq’s strong performance and stabilizing U.S. inflation, understanding which Big Tech stocks are likely to outperform in 2024 is crucial for investors seeking to capitalize on growth opportunities in the tech sector and navigate evolving market conditions.
Notable Quote
“Salesforce may be one of the companies investors should bet on for market-beating returns in 2024.” – InvestorPlace.
