When artificial intelligence (AI) is mentioned Microsoft, Nvidia, and Alphabet are often the first stocks that come to mind. And for good reason. They're all excellent companies, and each one, in its own way, is responsible for exciting AI innovations.
Even if these companies don't split their shares in 2024, both have generated blistering returns this year -- and this could be just the beginning.
According to ING Economics, the Federal Reserve's interest rate hike cycle has not only come to an end but the central bank is expected to cut interest rates multiple times in 2024. This bodes well for the U.S. stock market. Investors keen to take advantage of the improving stock market sentiment can consider buying high-quality stocks riding strong tailwinds.