Growth stocks have dramatically outperformed most asset classes over the past two decades. Within that universe, large-cap tech leaders have delivered the lion’s share of returns, riding tailwinds from the invention of the internet, cloud computing, and artificial intelligence (AI). In fact, a small cohort of tech giants has powered most of the S&P 500‘s gains in recent years.
That trend isn’t just likely to continue — it may accelerate. Catalysts on the horizon include the long-awaited “iPhone moment” for robotics, the emergence of artificial general intelligence (aka AGI), and the development of a commercially viable quantum computer.
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