The benchmark S 500 hit a record high in December 2023, cementing the bull market that technically began when the index bottomed in October 2022. It continues to march higher in 2024 on the back of strong corporate earnings and the potential for interest rate cuts later this year.

Bull markets are a rewarding time to be invested in the market, but it's still important to be selective about the stocks you buy. With that in mind, here's why Axcelis Technologies (NASDAQ: ACLS) is a buy now, and why investors might want to leave Peloton Interactive (NASDAQ: PTON) behind.

Semiconductor stocks are hot right now because chips are the beating heart of the artificial intelligence (AI) revolution. But Axcelis doesn't make any chips itself; rather, it's an important service provider that manufactures ion implantation equipment that's key to the fabrication process.

Continue reading

Source Fool.com