Hold on to your hats, because the Nasdaq Composite is gearing up for a dazzling show in 2024, following the resilience of 2023. History hints at an average 19% annual ascent, and while we know the past isn’t a crystal ball, the infusion of artificial intelligence (AI) innovations promises to turn this market into a powerhouse. For thrill-seeking investors eyeing an exhilarating 2024, two stocks, Amazon (NASDAQ: AMZN) and Meta Platforms (NASDAQ: META), are the wild cards set to take the stage and stir up some controversy.
Amazon’s Unstoppable Momentum:
Amazon, the juggernaut in retail and cloud computing, is not just bouncing back; it’s making a triumphant return with a jaw-dropping 60% stock surge over the past year. With a forward price-to-earnings (P/E) multiple of 44, Amazon is stepping into the spotlight, confidently striding above the market average. Why the buzz? Brace yourself for Amazon’s deep dive into AI applications.
Dabbling in everything from e-commerce to cloud computing, Amazon flexes its muscles with generative AI, transforming user experiences and propelling sustainable growth. Picture AI-powered customer review summaries and virtual shopping assistants; Amazon’s online marketplace is a tech carnival. And the AWS platform? Hold onto your hats—Bedrock is here, empowering enterprise clients to craft custom generative AI applications within the AWS universe.
But Amazon isn’t stopping there. The digital advertising game is its playground, with a staggering 26% year-over-year surge in advertising services revenue to $12.06 billion in Q3. The secret sauce? AI, baby, optimizing ad efficiency and making a splash on the Prime Video streaming service. Buckle up for Amazon’s wild ride in the ad space.
Meta Platforms’ Rollercoaster Ride:
Meta Platforms, the daredevil with a mind-boggling 168% stock surge in the last 12 months, is on a rollercoaster heading straight for profitability, fueled by the thrill of generative AI. Facebook, Messenger, Instagram, and WhatsApp—Meta’s social media quartet—already have 3.96 billion monthly users, capturing almost half the global population.
User-generated data? Meta’s got it, and they’re flaunting their hardware advantage with 600,000 Nvidia H100 AI training chips. But that’s not all; buckle up for founder Mark Zuckerberg’s audacious quest for artificial general intelligence (AGI)—tech that thinks and reasons like us mere mortals. Sure, success may be a bit down the road, but the potential for disruption in self-driving cars and robotics is enough to make you do a double take.
AI Beyond the Hype:
As 2024 unfolds, tech companies, Amazon and Meta in the lead, are riding high on valuations and AI hype. But here’s the kicker—investors need to shift from the dazzling lights to the nitty-gritty. How is AI really impacting these companies’ operational prowess?
Conclusion:
The Nasdaq isn’t just showing promise in 2024; it’s setting the stage on fire. Amazon and Meta Platforms, the renegades of the AI realm, are turning heads and sparking a heated debate. With historical trends as the backstage pass and AI innovations as the headline act, investors are in for a wild and controversial ride. As you navigate the Nasdaq, strap in for the unexpected, the electrifying, and the downright controversial—it’s a show you won’t want to miss.
Stock to Watch: iQSTEL Inc. (IQST) skyrockets towards a quarter-billion in revenue, marking a ‘hockey stick growth’ with its strategic acquisition of QXTEL, setting the stage for unparalleled market dominance.
