The boom in technology has seen an uprising trajectory over the past few years. Artificial Intelligence (AI), alongside other advanced technological trends, such as Machine Learning (ML), cloud computing, Quantum AI, and so on, have paved the way for investors to earn financial gains with a few top-notch AI growth stocks in the coming time.
Growth stocks are a must-buy than value stocks as they offer a guaranteed return on investment. The existing market trends in the technological domain provide a clear horizon of substantial growth, especially in the AI landscape, due to its role in business operations and the world’s digital transformation.
Do you want to explore the top five must-buy AI growth stocks in 2024 to diversify your investment portfolio and get the upper hand in the AI race? Keep on reading this article as it will explore the best AI stocks to buy this year that will ensure a remarkable outcome in the long run. Our list of the best AI growth stocks is based on suggestions from market experts on Wall Street.
Value or Growth Stocks? A Comparative Look
Trading and investing are two essential supplements for the compound growth of your financial assets. Companies and organisations globally strive to offer services and products after a thorough setup and structure. It is not everyone’s cup of tea to initiate their organisations and take them to the top of the chart.
A global report on Statista suggests that 19.2 per cent of the U.S. population prefer setting up their startup and are actively involved in entrepreneurship. This business model drives immense capital to the country, but it comes with persistent hard work and dedication. Therefore, investing in stocks becomes a feasible alternative where a person helps an established corporation with their money and earns annual dividends.
Investing in stocks exposes you to several pros and cons, including saving your time and energy, but may offer certain risks and low returns. Hence, understanding value and growth stocks comes to the rescue. AI growth stock is the best way to project a high-income future since AI companies grow tremendously due to the excessive demand for AI products and services.
Top 5 Must-Buy AI Growth Stocks in 2024
AI is on a unique voyage of growth and progress, with novel trends rolling out every passing day. The role of generative AI is inevitable when we observe the exponential growth of AI in a short duration of around three years. Generative AI offers applications in multiple industries, including medical care and imaging, supply chain management, manufacturing, business automation, automobiles, and so forth.
These AI-driven advanced applications open new opportunities for users and investors. Tech enthusiasts and users can enhance their productivity with them while investors get a chance to leverage their financial well-being. Microsoft and NVIDIA are the top names regarding contributions in the realm of generative AI, promising a growing market of advanced technologies.
With such a notable buzz in the investing market, it will be lucrative for you to explore a few AI growth stocks you can buy in 2024 to propel your portfolio and enjoy prosperous monetary rewards.
Related: 3 Up-And-Coming AI Stocks to Buy in 2024
#1. Microsoft
A global tech giant, Microsoft, is among a few trillion-dollar companies worldwide. With an established reputation in the realm of technology, it is an excellent AI growth stock to own in 2024. Microsoft is the leading investor in the frontier AI corporation, OpenAI.
Since ChatGPT is the talk of the town due to its state-of-the-art functionality, Microsoft stocks will get about 16 per cent upside this year. Its shares will gain further value in the coming days, enhancing its position in the global market.
Quick Link: Microsoft’s New Copilot Key Brings A Great Shift in Windows Keyboards After 30 Years
#2. ASML Holding NV
With a market capitalisation of 263.85 billion U.S. dollars, ASML Holding NV is essential in semiconductor and AI chip-making. It devises photolithography systems that make the foundation for the successful manufacturing of AI chips.
ASML Holding is an undervalued AI growth stock since many neglect the importance of its role in the existing AI chip crunch. Click here to explore further the shortage of AI chips and how this shortage shapes the entire technology market.
It is a vital organisation in semiconductor manufacturing from Intel and Taiwan Semiconductor Manufacturing Company (TSMC). Given its importance, its stocks will offer a lucrative return in the coming time.
#3. Arista Networks
Generative AI needs higher running time to ensure its persistent functionality. Cloud computing and storage solutions come in handy in this situation, providing the non-stop operation of AI corporations. Arista Networks (ANET) offers high-quality cloud computing services to enterprises and individuals.
Since cloud-based data centres control the working of large language models, AI corporations and startups need it the most. The best thing is that ANET is the industry leader in this domain. Therefore, it makes its way into the best AI growth stocks in 2024 with a projected 18.8 per cent upside.
#4. NVIDIA
NVIDIA makes up the baseline for the accelerated growth of AI with its high-performance Graphics Processing Units (GPUs) and AI chips. With an expected increase of 24.6 per cent, NVIDIA is the best AI growth stock with substantial returns.
The growing acceptance of NVIDIA is evident from its triple gains in the fiscal third quarter of 2023. It has joined the trillion-dollar club of tech giants, setting up a robust position in the market. Therefore, it is among the best AI growth stocks to diversify your portfolio for higher yields.
#5. Adobe
Adobe holds significant value for creative experts, offering several high-end products and services in marketing and e-commerce. Its tendency towards AI-powered products has added to its global user pool.
Firefly’s generative ML model has reshaped the functionality of Adobe’s products, including Photoshop, Illustrator, and so on. Click here to learn more. Furthermore, its Sensei AI revolutionises how we interact with marketing solutions, such as Adobe Analytics, Campaign, and more. Adobe offers the best growth stock with a forecast of 16.4 per cent.
Diversify Your Investment Portfolio with These AI Growth Stocks
Getting started with investing and trading is bliss in disguise that guarantees the compounding of your wealth. With the right stocks and assets, you can leverage your financial gain swiftly. Our top five AI growth stocks list will help you diversify your portfolio, promising a prosperous financial year.
However, you should never neglect the risks associated with these stocks. A successful investor carefully observes the market trend and completes their homework before entering the practical market.
Author Profile
Latest entries
GAMING2024.06.12Top 4 Female Tekken 8 Fighters to Obliterate Your Opponents in Style!- NEWS2024.03.18Elon Musk’s SpaceX Ventures into National Security to Empower Spy Satellite Network for U.S.
- GAMING2024.03.17PS Plus: 7 New Games for March and Beyond
- GAMING2024.03.17Last Epoch Necromancer Builds: All You Need To Know About It
