Technology investors can look forward to another successful year on the stock market.
After an increase of more than half last year, the US index NASDAQ 100 will record an increase of at least 24.88 percent in 2024. As in 2023, technology stocks have left all other important industrialized country stock exchanges behind. The Nasdaq 100 reached its record high in mid-December at 22,133.22 points.
The megatrend of artificial intelligence (AI) once again proved to be the most important driving force for tech stocks. In addition, there was a significant one from the US Federal Reserve Interest rate cut monetary policy turnaround of 0.5 percentage points after inflation in the USA had weakened significantly. Falling interest rates make future but uncertain profits, such as those promised by rapidly growing tech companies, more valuable from today’s perspective. Finally, the hype surrounding the record-breaking cryptocurrency Bitcoin also drove up the prices of certain companies.
The biggest Nasdaq 100 winners and losers of the year at a glance:
1. Applovin (AppLovin A) +712.62%: In contrast to the previous year, first place this time does not go to the AI high-flyer NVIDIA, but to the company Applovin Corporation, which has only been listed in the Nasdaq 100 since November 18th. This helps developers analyze, publish and ultimately monetize their apps. AI-supported advertising technology is considered an important success factor. Analysts apparently appreciate the business model: 20 of the analysts recorded by the Bloomberg business service recommend buying the shares. Only 6 experts advocate waiting, while no expert recommends selling.
2. MicroStrategy +358.54%: The software company has completely turned its business model inside out and is now investing heavily in Bitcoins, because company boss Michael Saylor is considered a hardcore Bitcoiner. The company continually obtains fresh liquidity for further purchases through constant increases in debt and equity. In the coming years, Microstrategy wants to invest billions more in the cryptocurrency. However, opinions differ about the sustainability of the business model. According to traditional standards, the security is hopelessly overvalued.
3. Palantir +340.48% – The data analysis company recently achieved record profits thanks to its AI-based offerings. Palantir is currently growing particularly strongly in the USA. For analysts at major bank UBS, the Americans are one of the biggest winners in the area of AI-supported data processing. Institutional investors’ interest in the stocks is currently increasing.
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98. Biogen -40.91% – Weaker business with drugs against multiple sclerosis had depressed Biogen’s sales in 2023. The most recent market launches were positive, but at a rather manageable level, wrote the experts at DZ Bank. The pipeline is exciting and, in addition to the versatile antibody Felzartamab, also includes an Alzheimer’s drug. However, the path to realizing this potential is long and not without the risk of setbacks.
99. MongoDB -43.06% – The company offers document databases that are popular among web-based application developers. At the end of May, however, MongoDB severely disappointed investors with its sales outlook. In December, the share price fell despite surprisingly good business figures, because after almost ten years, Michael Gordon, an important manager, is leaving the company at the end of January 2025. His skills include both financial management and day-to-day business.
100. Intel -60.10% – The chip veteran had to vacate its place in the US selection index Dow Jones Industrial at the beginning of November – for NVIDIA. At the beginning of December, company boss Pat Gelsinger unexpectedly resigned. Intel once dominated the semiconductor market, but has been struggling with problems for years. NVIDIA has conquered a leading position, especially in the business with chips for artificial intelligence. In addition, Intel is under greater pressure in its traditional business with PC processors and chips for data centers.
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