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Tech stocks just wrapped up one of their best years in past two decades after 2022 slump - TL;DR CNBC

Tech stocks just wrapped up one of their best years in past two decades after 2022 slump

Publishing timestamp: 2023-12-30 08:55:31


Summary

The Nasdaq had a strong performance in 2023, climbing 43%, led by gains in chipmaker Nvidia and Facebook parent Meta. Tech stocks rebounded from a difficult year in 2022, and the Nasdaq had its best year since 2020. The return to risk and a more stable outlook on inflation contributed to the market's bounceback. Generative artificial intelligence also drove excitement in the tech sector, with companies like Nvidia and Meta benefiting from the trend. Microsoft also had a successful year, integrating AI technology into its products. Uber achieved profitability and was added to the S&P 500. However, there was a lack of new opportunities for public investors in the tech IPO market.


Sentiment: POSITIVE

Tickers: NVDAUBERGOOGLMETAAAPLUNDEFINEDMSFTAMZN

Keywords: instacart (maplebear inc)uber technologies incmeta platforms incnvidia corpbusinesstechnologymicrosoft corpklaviyo incmark zuckerbergalphabet incarm holdings plcamazon.com incsatya nadellaapple incbusiness newssteve ballmersocial mediabreaking news: technology

Source: https://www.cnbc.com/2023/12/29/tech-stocks-wrap-up-2023-rally-after-last-years-slump.html


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