2023 was the best year since the dot com bubble

2023 was the best year for the Nasdaq-100 since the dot com bubble. To find a stronger annual return for the Nasdaq-100, you have to go all the way back to 1999, when the tech index soared by a staggering 102 percent.

BUT…

The technology-heavy index then fell -38% in the year following the dot-com bubble.

Of the 25 best performing stocks, six companies belong to the semiconductor industry.

The top 5 stocks were:

1) NVIDIA: 238%.

2) Meta: 197%.

3) CrowdStrike: 144%.

4) AMD: 125%.

5) Palo Alto Networks: 113%.

And don’t forget the role of the “Magnificent 7”!

From NVIDIA to Microsoft, these seven companies were responsible for 64 percent of the rally this year.

Can AI mania continue to strengthen markets in 2024?

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