Goldman Sachs: Mega-cap technology stocks may push the S&P 500 to 6,000 points by the end of this year, and the mega-TMT stock market is far from reaching a "bubble"
Strategists such as David Kostin of Goldman Sachs Group said: Stick to the expectation that the S&P 500 index will reach 5,200 points by the end of 2024. There is a possibility that large-cap technology companies will drive the stock index up a further 15% (by the end of 2024). While artificial intelligence (AI) optimism appears to be high, long-term growth expectations and mega-cap TMT stock valuations are still far from "bubbly" levels.
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