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Global X’s investment chief, Jon Maier, reflects on the investment landscape for 2024, which is shaping up to be particularly interesting, thanks to AI-related stocks, cloud computing, cybersecurity, emerging markets, and small caps for potential growth.
What Happened: Maier, who is associated with the $48 billion award-winning AI exchange-traded fund (ETF) provider Global X, has identified several promising sectors for investors in 2024, reported Business Insider.
Among them, AI-related stocks, including Nvidia (NASDAQ:NVDA), cloud computing, and cybersecurity, stand out as “naturals that fit together.”
Maier suggests investors consider the Global X Cloud Computing ETF (NASDAQ:CLOU) and the Global X Cybersecurity ETF (NASDAQ:BUG), or alternatives such as the First Trust Cloud Computing ETF (NASDAQ:SKYY) and the iShares Cybersecurity and Tech ETF (NYSE:IHAK).
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He also sees value in small caps due to their attractive valuations and seasonal trends, recommending ETFs like the Vanguard Small-Cap ETF (NYSE:VB) and the iShares Core S&P Small-Cap ETF (NYSE:IJR).
Maier also mentioned covered-call products, including Global X’s S&P 500 Covered Call ETF (NYSE:XYLD) and Nasdaq 100 Covered Call ETF (NASDAQ:QYLD). He added that they are a top idea if markets appear range-bound next year.
Moreover, Maier perceives potential in emerging markets, particularly India, due to its demographic changes and appeal to foreign investments.
Why It Matters: This surge in AI-focused ETFs comes amid increased attention on AI in the financial sector. SEC Chairman Gary Gensler has recently warned companies to refrain from overstating their AI capabilities. While companies explore potential growth opportunities with AI, the SEC is closely monitoring them to ensure transparency.
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