On Wednesday, Mizuho named Cerity Partners as a top technology pick for July, specifically highlighting Adobe Inc (ADBE) and Oracle Corporation (ORCL). Jim Lebenthal, a financial analyst, recommended buying both stocks due to their potential to benefit from the rise of AI.
Lebenthal praised Adobe for its ability to monetize AI, stating that the company had been undervalued for too long. Adobe’s stock rose after reporting strong earnings for the second quarter and providing optimistic guidance for the third quarter and beyond. Analysts have also responded positively to Adobe’s performance, contributing to the stock’s upward trend.
Similarly, Oracle saw an increase in its stock price following its earnings report in June, despite not meeting analyst expectations. The company highlighted the growing demand for AI and announced a partnership with Google Cloud, propelling the stock even higher. Lebenthal sees Oracle as attractively priced at the moment but advises waiting for a potential pullback before purchasing shares.
As of Wednesday, Adobe shares closed at $570.15, up 0.43%, while Oracle shares ended the day at $144.15, up 0.61%. Lebenthal, who already owns shares of both companies, intends to hold onto them for the foreseeable future.
Overall, Lebenthal believes that both Adobe and Oracle are solid investment opportunities in the tech sector, particularly due to their involvement in AI. Investors may want to consider these stocks for potential growth as the companies continue to innovate and capitalize on the advancements in artificial intelligence.
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https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39623324/adobe-oracle-named-top-tech-picks-for-july-why-this-investor-expects-the-ai-momentu
