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Nasdaq's record high shows why you should embrace tech for wealth creation

March 4, 2024 ( Newswire) The Nasdaq posting a record-high on Friday underscores why investors need to embrace tech into their portfolios, affirms the CEO of one of the world's largest independent financial advisory, asset management and fintech organisations.

The bullish analysis from deVere Group's Nigel Green comes as US stock futures were steady on Monday after the tech-heavy Nasdaq Composite hit an all-time high on Friday, breaking its 2021 record.

He comments: "The Nasdaq's ascent to an all-time high underscores the resilience and innovation embedded in tech companies.

"Investors who recognise and leverage this momentum will be well-positioned to ride the wave of the tech boom, potentially reaping substantial rewards in the process."

At the heart of the tech rally is the fervent enthusiasm over artificial intelligence (AI).

"The transformative impact of AI on various industries is reshaping the business landscape and propelling tech companies to new heights. From machine learning and automation to data analytics, AI is unlocking unprecedented possibilities, creating efficiencies, and driving revenue growth. Investors who are serious about building long-term wealth can't afford to overlook the seismic shift that AI is bringing to the forefront of the tech sector," comments the deVere Group CEO.

He continues: "Tech stocks have consistently demonstrated their ability to outperform the broader market, contributing significantly to overall portfolio growth.

"The recent achievement of the Nasdaq Composite, coupled with the S&P 500's robust performance, highlights the sustained upward trajectory of the tech sector."

As traditional sectors face challenges and uncertainties, tech stands out due to its invaluable diversification benefits. Embracing tech in portfolios provides investors with "exposure to sectors that are driving the future of global economies."

From e-commerce and cloud computing, to renewable energy and biotechnology, tech offers a diverse range of investment opportunities.

The sector's commitment to innovation is a powerful catalyst for wealth creation, notes Nigel Green. "Companies within this realm are at the forefront of groundbreaking advancements, constantly pushing boundaries and disrupting traditional business models.

"Investors who embrace tech position themselves to capitalise on the potential for outsized returns fuelled by innovation.

"Whether it's investing in established tech giants or identifying promising startups, the commitment to innovation remains a key driver of long-term wealth accumulation."

This global reach of tech not only diversifies investment portfolios, but also aligns them with 'the broader trends shaping the future of the digital age," he says.

Nigel Green concludes: "Last week's record-breaking performance of the Nasdaq serves as a compelling invitation for investors to fully embrace tech in their portfolios.

"It signals not just a trend but a transformative era that savvy investors should actively participate in for their journey toward long-term wealth creation."

t: +44 207 1220 925
Twitter: @PriorConsults

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

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