2 "Magnificent Seven" Stocks That Are AI Buys in 2024
As the cloud leaders serving a growing market for artificial intelligence (AI), (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) are the two "Magnificent Seven" stocks I would feel the most comfortable buying and holding in almost any economy. They are experiencing growing demand in their cloud service businesses that make them relatively low-risk bets right now.
Most importantly, Microsoft and Amazon are producing growing free cash flow that can fuel investments in new AI tools for many years. These two have tremendous customer followings that make them look unstoppable as long-term investments. Here's more about why I would feel safe owning these two stocks in 2024 and beyond.
The interest in AI only seems to be placing a bigger spotlight on the advantages that large tech companies bring to the table with their enormous profitability and cash resources. Smaller software start-ups in AI are losing money, but Microsoft can deliver new AI features while raking in profits.
Source Fool.com
Microsoft Corp. Stock
The stock is one of the favorites of our community with 107 Buy predictions and 1 Sell predictions.
With a target price of 424 € there is a slightly positive potential of 4.22% for Microsoft Corp. compared to the current price of 406.85 €.
