The Nasdaq Composite returned 12% annually in the last two decades, and the gains should continue as technology stocks benefit from artificial intelligence.

The Nasdaq Composite ( ^IXIC -0.01% ) advanced 857% during the last two decades, equivalent to an annual return of 12%. That period covers such a broad range of economic and stock market conditions that investors can be reasonably confident in similar returns in the future.

That is especially true because the Nasdaq is heavily weighted toward technology companies, and artificial intelligence (AI) should be a powerful tailwind for the technology sector. Right now, Wall Street expects particularly robust returns from Arm Holdings ( ARM -0.60% ) and MongoDB ( MDB -6.87% ) .

Among 43 analysts, Arm has a median ta

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