Wedbush Securities has projected a bullish scenario for the technology sector in 2024, predicting that tech stocks could see an increase of 25-35% with the NASDAQ potentially reaching the 20,000 level. This optimism is based on the expectation that the market is underestimating the speed at which artificial intelligence (AI) monetization is advancing among enterprises. The firm's analysts have noted strong performance in enterprise cloud sectors in the December quarter and highlighted Tesla’s strong 4Q delivery numbers. Furthermore, Wedbush has dubbed 2024 as 'the year of AI,' anticipating a 33% surge in the tech industry driven by the rapid adoption and explosion of AI use cases. Representatives from DivesTech are scheduled to discuss this bullish outlook and the potential for NASDAQ to hit 20,000 on CNBC's Squawk Street.
“We believe tech stocks will be up 25% in 2024,” @DivesTech wrote in a note, adding that “the Street and tech world await ‘the Year of AI.’” https://t.co/y2YIfT0iUM
As we discuss only on @SquawkStreet we believe tech stocks will be up 25% in 2024 with a NASDAQ 20k level our bull case scenario as the Street is still significantly under estimating how quickly this AI monetization cycle is playing out. All about AI use cases exploding 🐂📺👇 https://t.co/ZuKxXAEgb4
Great to be on @SquawkStreet with @davidfaber and @LesliePicker to kick off 2024 discussing Tesla’s strong 4Q delivery numbers and our bullish tech outlook for 2024 🐂🔥🏆📺🍿Our NASDAQ 20k call discussion below 👇 @CNBC @CNBCtech https://t.co/ZuKxXAEgb4
.@DivesTech tells @DavidFaber & @LesliePicker the NASDAQ could be at 20,000 by the end of 2024. “Our bull case for this year is that tech stocks could be up 30-35%” https://t.co/F7wnWD3wmh
2024 will be 'the year of AI' – and send tech stocks surging as much as 33%, Wedbush says https://t.co/FgEUmxZV6Q
Look forward to discussing our new enterprise cloud and AI checks and 20k NASDAQ for 2024 bull case call on @SquawkStreet at 10 am tomorrow with @davidfaber @LesliePicker @CNBC @CNBCtech ☁️🔥🏆🐂🍿👇📺 https://t.co/lLnqwPRf8F
Wedbush just said it believes tech stocks will be up 25% in 2024 with a NASDAQ 20k level in its bull case scenario
We believe tech stocks will be up 25% in 2024 with a NASDAQ 20k level our bull case scenario as the Street is still significantly under estimating how quickly this AI monetization cycle is playing out among enterprises in the field. Dec quarter end checks strong for cloud☁️ 🔥🐂