'Magnificent Seven' up for another bull run? What to expect from technology stocks in 2024.
What to expect from technology stocks in 2024.Opportunity still lurks in the next rung of AI adopters, says Morningstar analyst. It has been a miracle year - for a few U.S. technology stocks.Investors who missed the year's unexpected rally may be wondering if there still is room in 2024 to dip their toes into "Magnificent Seven" stocks, given a backdrop where the Federal Reserve is expected to pivot to rate cuts and inflationary pressures ease further."There's always a possibility that you could see that momentum continue into 2024," said Dan Suzuki, deputy chief investment officer at Richard Bernstein Advisors. But he also sees "a very narrow window" for that to happen, given the Magnificent Seven stocks need growth that's neither "too strong or too weak.". There also is a chance of the fuel that drove economic activity in 2023 starting to run low in the coming months, with tighter financial conditions weighing on economic growth and corporate profits, bringing earnings risk back to t