Tech stocks such as NVIDIA are leading the Nasdaq and S&P 500 to new highs, prompting investors to consider AI stocks for potential gains. NVIDIA recently announced a 10-for-1 stock split, making its shares more accessible to investors. Other AI companies like Oracle, Super Micro Computer, and Taiwan Semiconductor Manufacturing are also seeing positive growth and could benefit from the rise of AI and stock splits.
Oracle (ORCL) has seen a 32% increase in its stock price this year and is expanding its cloud business, attracting new customers, and securing major deals. The company’s cloud infrastructure revenue and outstanding performance obligations show its strength amid competition. With promising quarterly results, Oracle is expected to end the year on a high note.
Super Micro Computer (SMCI) designs and manufactures high-performance servers for AI and machine learning applications. The company works closely with NVIDIA and has experienced explosive growth due to high demand for AI technology. SMCI recently reported a significant increase in revenue and earnings, setting ambitious revenue targets for the next quarter.
Taiwan Semiconductor Manufacturing (TSMC) has a close relationship with NVIDIA and has seen its value rise as demand for NVIDIA chips increases. The company has improved the nanometer size of its chips and is known for its innovation and high quality. TSMC’s monthly income has been on the rise, with expectations of strong sales throughout 2024. The company is also expanding its manufacturing capabilities to meet growing demand.
Investors looking to capitalize on the AI boom and potential stock splits should consider these AI stocks for potential gains. Oracle, Super Micro Computer, and Taiwan Semiconductor Manufacturing are all well-positioned to benefit from the continued growth of AI technology in the stock market.
Article Source
https://investorplace.com/2024/06/3-ai-stocks-to-buy-following-the-nvidia-stock-split/
