This segment was originally broadcast on January 3, 2024.
The technology sector experienced significant expansion in 2023, primarily driven by widespread AI adoption. What can we expect for tech growth in 2024? Dan Morgan, Senior Portfolio Manager at Synovus Trust, joins Yahoo Finance Live to discuss key tech trends for the upcoming year.
Morgan points out that enterprise software, while “muted” in 2023, is projected to grow by 13% in 2024. He highlights that the data center segment, which includes major players like Amazon’s AWS (AMZN) and Microsoft Azure (MSFT), has entered a phase of maturity.
“I don’t think we’re ever going to return back to the growth rates that we had previously, especially after COVID,” Morgan states regarding the outlook for data center expansion.
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