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    These AI Stocks Have Become Wildly Oversold

    Ian Cooper
    Sunday, December 22, 20243 min read
    These AI Stocks Have Become Wildly Oversold

    The artificial intelligence story is still red hot.

    Granted, some of the AI tech leaders pulled back in recent weeks, but that weakness is an
    opportunity – especially as AI grows.

    Look at Nvidia (SYM: NVDA), for example.

    The company – which provides the building blocks for AI – is just starting to pivot from its 200-
    day moving average to the upside. In fact, from its last traded price of $122.85, we’d like to see
    it retest $130 near term.

    Plus, according to Grand View Research, the global AI boom could grow from about $137 billion
    in 2022 to more than $1.81 trillion by 2030.

    That being said, you may want to take advantage of the weakness in stocks like:

    Nvidia (SYM: NVDA)

    Again, Nvidia (NVDA) is the pioneering force behind AI.
    It’s also wildly oversold at $130.68, and is attempting to pivot higher.
    Analysts at William Blair also just said, “The rising AI tide has catapulted parallel computing to
    the forefront of the tech industry and has driven massive demand for the company’s GPUs and
    parallel computing stack. As evidence, Nvidia’s data center revenue grew 217% in fiscal 2024
    and is expected to grow 132% in fiscal 2025, exceeding $110 billion in revenue (up dramatically
    from $15 billion in fiscal 2023),” as quoted by TipRanks.com.

    Advanced Micro Devices (SYM: AMD)

    Advanced Micro Devices (AMD) is also incredibly oversold.
    A bargain at less than $120, AMD’s technology and its earnings potential is being severely
    undervalued by the market – especially with its new patent that could revolutionize artificial
    intelligence graphics processing unit (GPU) technology.
    In addition, AMD is exposed to a multi-billion-dollar addressable market for data center AI
    chips. In fact, according to company Chair and CEO Lisa Su, that addressable market for AI chips
    will reach $500 billion by 2028, which is up from her prior estimate for $400 billion by the time
    2027 rolls around.

    Also, the company’s latest generation of AI chips, the MI300, is its fastest ramping product ever.
    Lisa Su added that AMD’s MI300X chip—which rivals dominant AI chipmaker Nvidia’s H100 is
    “the most advanced AI accelerator in the industry,” as noted by Time.com.

    Global X Robotics & Artificial Intelligence ETF (SYM: BOTZ)

    Or, you can always diversify with an ETF, such as the Global X Robotics & Artificial Intelligence
    ETF (BOTZ). With an expense ratio of 0.68%, the ETF seeks to invest in companies that
    potentially stand to benefit from increased adoption and utilization of robotics and artificial
    intelligence (AI), including those involved with industrial robotics and automation, non-
    industrial robots, and autonomous vehicles, according to Global X.

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    Written by Ian Cooper

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