After a tough 2022, when the value of the Nasdaq dropped significantly, companies’ course has shifted towards cost reduction and greater efficiency. Tech giants like Alphabet (Google), Meta* and Amazon have implemented mass layoffs, resulting in higher profits and a more realistic growth forecast.
The value of companies that struggled last year, like Tesla, more than doubled in 2023. Leveraging the AI boom, chip maker Nvidia experienced a staggering 190% share price increase, pushing its market cap to over $1 trillion. Experts expect the dominance of technology to continue, especially in the field of artificial intelligence.
While Apple has not experienced such dramatic growth, this year it has seen a 50% increase in its share price, pushing its market cap to a record $3 trillion.
The article highlights that the last time Nasdaq had such a strong first half, Apple introduced the Lisa PC, IBM is the most valuable tech company in the US, and Mark Zuckerberg was yet to be born.
*Recognized as extremist and banned in the Russian Federation
Source: Ferra
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