The tech sector was certainly the top sector for 2023 with nonstop talks of the Magnificent Seven and AI. However, as markets opened in the new year, the tech sector saw a bit of a sell-off alongside a choppy market start for 2024. Is this a sign of things to come?
The Citadel Finance Professor Paul Meeks joins Yahoo Finance to give insight into the markets and the tech sector moving forward in 2024.
“I don’t think we have a fundamental issue. I think the drivers — including the most important driver, artificial intelligence — are still intact as we roll into 2024. But, we simply have come too far too fast, particularly with the explosive move upward in the sector ever since November began, that we’re probably due for a little bit of comeuppance,” Meeks explains. “But I would wager… that when we get to the end of 2024, the S&P 500 (^GSPC) will have a pretty good year, it will outperform its 10% long-term average.”
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What S&P 500? someone please enlighten me I will be glad to learn
Broooooooo
Internet is your solution!
Great to see Milo back
Can someone explain what Paul meant when he said “Let the profit taking in technology exhaust itself” and why he said that? Thanks in advance! 1:50
Many investors are closing out or rebalancing their tech positions after the 2023 bull run. He’s saying let these sceptics run their course as this will cheapen tech prices, then buy when price is right – he mentions when prices reach the 50 and 200 day moving average
I have a 3 fund portfolio consisting of 33% S&P, 33% Total stock, and 33% international. I feel a need to focus on complete growth so I went 100% stocks, but does the SP500 and TSM overlap too much to make sense holding both? However I’ve been in the red for a month now. I work hard for my money, so investing is making me a nervous sad wreck. I don’t know if I should sell everything, sit and just wait but watching my portfolio of $450k dwindle away is such an eye -sore.
There are many other interesting stocks in many industries that you might follow. You don’t have to act on every forecast, so I’ll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
Really? I’ve actually been looking to switch to an advisor for a while now. Just never made up my mind. Any help pointing me to who your advisor is?
she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
Absurd BS lies.