The year 2024 has been a landmark for the tech industry, fueled by artificial intelligence and cryptocurrencies. The Nasdaq index surged by 33% with many companies experiencing double-digit growth.
MicroStrategy's Rise: A Crypto-Centric Approach
MicroStrategy has continued to astonish the market with its crypto endeavors, with its stock skyrocketing by 467% in 2024. The company now possesses over 444,000 Bitcoins, valued at approximately $44 billion. Founder Michael Saylor made Bitcoin central to MicroStrategy's strategy, helping the company achieve a substantial increase in its market cap. Donald Trump's election win provided an additional boost to the stock.
AppLovin Thrives on AI Boom
AppLovin expanded its market cap to over $110 billion, propelled by AI technology. Its stock soared by 758% in 2024. The success is attributed to the launch of AXON 2.0, significantly enhancing ad campaign effectiveness. The third quarter ended with a revenue growth of 39% and a net income increase of 300%.
Robinhood's Crypto Trading Surge
Robinhood marked a comeback in the market, tripling its stock value primarily through cryptocurrency trading. Revenue from crypto operations grew by 165% in the third quarter, comprising 10% of the company's total income. According to CEO Vlad Tenev, cryptocurrencies will bring substantial changes to the financial sector.
The year 2024 has been remarkable for tech stocks, with AI and crypto driving significant shifts in financial markets. The question remains how long this trend will persist and what lies ahead.
