2 Artificial Intelligence (AI) Stocks to Buy Before the Nasdaq Surges in 2024
Wall Street is ending 2023 on a high note. The technology-heavy Nasdaq Composite gained about 43% in 2023. It may rise even higher in the coming months, driven mainly by positive economic indicators such as higher-than-expected corporate earnings and third-quarter gross domestic product (GDP) growth that surpassed most forecasts.
A potential economic recovery makes it easier for technology companies to access capital for disruptive innovations. Not surprisingly, being composed of many innovative-technology stocks, the Nasdaq Composite will benefit significantly in the case of an uptick in economic activity in 2024.
Artificial intelligence (AI) has been the hottest investment theme in 2023, and is poised to remain a major trend in 2024. Improvement in the economic landscape may drive up share prices of many AI stocks in the coming months. Hence, it makes sense to pick up small stakes in some fundamentally strong AI stocks with well-proven monetization models. Here's why Advanced Micro Devices (NASDAQ: AMD) and Super Micro Computer (NASDAQ: SMCI) fit the bill.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 88 Buy predictions and 2 Sell predictions.
With a target price of 176 € there is a positive potential of 28.06% for Advanced Micro Devices Inc. compared to the current price of 137.44 €.
