For investors looking for exposure to technology and other growth-focused names in the new year,
Pro has some ideas. Tech is on track for another banner year, with the Nasdaq Composite tracking for a gain of more than 31%. Additionally, communication services and information technology sectors have led the S & P 500 higher in 2024, further underscoring the role of this group in driving up the market. Given this environment,
Pro screened for tech stocks that can lead in the year ahead. To find these, Pro searched for names in the concentrated Nasdaq 100 that met the certain criteria as of mid December, according to FactSet. These stocks all have a consensus buy rating from analysts and average price targets suggesting shares can rally at least 30%.
Pro then sorted for names that are positive in 2024, in order to exclude stocks that have high upsides just because of poor performance this year. Here's the names that made the list: No surprise: Nvidia , one of the buzziest tech stocks of the year, made the cut. It comes amid a stellar year for the artificial intelligence darling's shares, which have surged more than 180% in 2024. Even after that big run, Wall Street sees 25% in further upside for shares.
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