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.
Also consider this.
Artificial intelligence-related spending will make up about 8% to 10% of IT budgets in 2024, according to Wedbush. “This demonstrates a remarkable acceleration in AI spending after it comprised less than 1% of IT budgets in 2023,” added Seeking Alpha.
“While the first wave of the AI Revolution is being led by the Godfather of AI Jensen and Nvidia along with Nadella/ Redmond…now the 2nd/3rd/4th derivatives of this $1 trillion of spending over the next decade is hitting the shores of the tech sector,” added Wedbush.
That being said, you may want to take advantage of the weakness in stocks like: Company: Nvidia (SYM: NVDA) Again, Nvidia (SYM: NVDA) is the pioneering force behind AI. 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. Bank of America also reiterated NVDA as a buy with a price target of $165. “AI capex is not just driving new business opportunities, it’s also critical in protecting existing moats and large profit pools in search, social and enterprise (chat, copilot) workloads. The tech industry will give itself at least another 1-2 years of intense buildout of NVDA Blackwell chip with its 4x lift in AI training and 25x+ lift in inference,” said the firm, as quoted by CNBC. |
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Company: Advanced Micro Devices (SYM: AMD) Advanced Micro Devices (SYM: AMD) is also just starting to pivot higher. Helping, Bank of America just reiterated a buy rating on the AMD stock ahead of is “Advancing AI” event scheduled for October 10. Better, as noted by Investing.com, “Analysts highlighted that AMD’s previous AI event on December 6 was followed by significant stock gains of 19% and 80% over the subsequent one and three months, outperforming the Philadelphia Semiconductor Index index’s 10% and 37% increases. The upcoming event, where AMD is expected to unveil roadmap updates in AI and server CPU alongside supporting cloud customer comments, “could reinvigorate AMD stock.” |
Colonial Metals Group
99% of 401k owners don’t know about this
China and Saudi Arabia just formed an alliance against the petrodollar.
And 42 countries are now set to announce a new global currency.
But here’s what you might not know:
China is also buying up US farmland at record speed with suitcases full of cash – and our government is letting it happen.
It’s true. In fact, together with 17 other globalist allies…
View the Chinese Communist Party has now grabbed 43 million acres of prime US farmland.
ETF: 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 (SYM: 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. |