As we embark on a new year, many investors are looking back at the stock market’s performance over the past year and what it means for the future — and there’s plenty to be thankful for. After turning in its worst performance in more than a decade, the Nasdaq Composite returned to form, rising 43% in 2023.
However, after an increase of that magnitude and the uncertainty that remains in the economy, investors are understandably asking themselves what to expect in 2024. Looking to history for insight about what could happen over the coming year reveals good news.
The Nasdaq’s first full year of trading was in 1972, and since that time, in every year following a bear market recovery, the tech-centric index has generated returns of 19% on average. The range of the results varies, from just 7% in 1986 to 38% in 2013. That said, based on the data, the chances are good that the Nasdaq will book gains in 2024.
If the Nasdaq does soar in 2024, there are two tech stocks you’ll want to have in your portfolio before it does.
Image source: Getty Images.
1. HubSpot: Taking CRM to the next level
HubSpot (NYSE: HUBS) is synonymous with inbound marketing, thanks to CEO Brian Halligan, who first pioneered the concept. This strategy seeks to attract potential sales leads to companies by creating valuable content that customers can find and use.
Rather than bludgeoning them with banner ads or flooding their inbox with unwanted emails, inbound marketing uses social media posts, white papers, blog posts, instructional videos, and infographics to inform potential customers and attract them to the business.
From those humble beginnings, HubSpot has evolved, providing a full line of customer relationship management (CRM) solutions for small- and medium-sized businesses. In addition to marketing, the company now offers sales, service, content management, operations, and commerce tools, all from a single dashboard. Furthermore, HubSpot has integrated artificial intelligence (AI) tools across a broad cross-section of its offerings, making users more productive and helping them generate more…
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