The Zacks Analyst Blog XLK, FDN, FXL, PSCT and XSW
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 11 2024
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Source: NASDAQ.COM
Tech Stocks Performance: U.S. tech stocks have thrived due to an AI boom, with the Technology Select Sector SPDR Fund (XLK) gaining 28% in 2024 and 56% in 2023, driven by trends like remote work, digital payments, and video streaming.
Investment Outlook: Analysts suggest that despite high valuations, there are opportunities in undervalued tech ETFs, particularly as the AI sector continues to grow and the Federal Reserve begins a rate-cutting cycle, which could further benefit growth-oriented investments.
Analyst Views on FXL
Wall Street analysts forecast FXL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FXL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 174.110
Low
Averages
High
Current: 174.110
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Averages
High
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
