The massive rally in large-cap stocks, driven by AI, has surpassed expectations with Nvidia, Microsoft, Google, Amazon leading the way. Investors are now seeking the “next big thing” among megacap stocks. Three stocks to watch are Broadcom, Tesla, and Eli Lilly. Broadcom, a semiconductor company, has shown impressive growth potential with its dominance in the AI market, wireless expansion, and cloud data center growth. Analysts rate it a “strong buy” with a target price of $1,828.30. Tesla, a leader in EVs, faces challenges in deliveries and margins but remains strong in the EV market. The company is investing heavily in autonomous driving and AI infrastructure. Analysts have a consensus rating of “Hold” with a target price of $310. Eli Lilly, a global healthcare leader, has seen revenue and earnings growth, driven by products like Mounjaro and Zepbound. Analysts rate it a “Strong Buy” with a target price of $832.18. Overall, these three stocks offer significant upside potential for investors in the second half of 2024.
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