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: NVDA, UBER, GOOGL, META, AAPL, UNDEFINED, MSFT, AMZN,
Keywords: instacart (maplebear inc), uber technologies inc, meta platforms inc, nvidia corp, business, technology, microsoft corp, klaviyo inc, mark zuckerberg, alphabet inc, arm holdings plc, amazon.com inc, satya nadella, apple inc, business news, steve ballmer, social media, breaking news: technology,
Source: https://www.cnbc.com/2023/12/29/tech-stocks-wrap-up-2023-rally-after-last-years-slump.html