TLDR:
Key points from the article:
- Rosenblatt’s top artificial intelligence pick for the second half of 2024
- AI tailwinds continuing from 2023, with Nvidia and Super Micro Computer showing significant growth
AI is showing no signs of slowing down, with some of Rosenblatt’s top picks for the second half including Advanced Micro Devices, Micron Technology, and Apple. Analysts are bullish on these companies due to their strong potential in the AI space.
Full Article:
Rosenblatt has highlighted its top artificial intelligence pick as the second half of 2024 approaches. The momentum of AI continued into the new year, with key winners like Nvidia and Super Micro Computer experiencing substantial growth. Nvidia and Super Micro Computer saw their shares rise by 154% and 212%, respectively.
Among Rosenblatt’s top picks for the second half of the year is Advanced Micro Devices (AMD). Analyst Hans Mosesmann has set a $250 price target for AMD, implying a 57% upside from Thursday’s close. Mosesmann cited a strong central processing units pipeline and potential accelerator share gains as reasons for his bullish outlook on AMD.
In the semiconductor space, Micron Technology has also been named as one of Rosenblatt’s top picks. Despite a 58% rally in shares this year, Micron faced a 7% slump after sharing in-line guidance. Analyst Barton Crockett identified Apple as a stock to watch in the second half, especially following the company’s recent unveiling of its AI vision.
CrowdStrike, Five9, and Autodesk were also mentioned as top picks by Rosenblatt for the second half of 2024. With AI showing no signs of a slowdown, these companies are expected to benefit from the ongoing AI trend and drive growth in the coming months.