Tech stocks Nvidia and Amazon are leading the charge in the new bull market; both are buys.

From Nasdaq:

The S&P 500 index is in a new bull market thanks to the “Magnificent Seven” tech stocks leading the charge. Nvidia, with its top-performing AI chip, has seen its revenue and net income skyrocket, reaching record levels. Amazon, a leader in e-commerce, cloud computing, and AI, is poised for more growth.

Nvidia has soared over 240% in the past year, thanks to its cutting-edge AI chip technology. With the upcoming release of Blackwell architecture, Nvidia is set to revolutionize AI computing, drawing praise from tech giants like Tesla’s Elon Musk and Meta Platforms. Trading at 36x forward earnings estimates, Nvidia is still a buy.

Amazon, a tech stock to buy now, excels in e-commerce, cloud computing, and AI. With AI streamlining operations and improving customer experiences, Amazon is poised for earnings growth. The company’s AI offerings through Amazon Web Services, combined with its long track record of earnings growth, make it a compelling buy at 42x forward earnings estimates.



Read more at Nasdaq: 2 “Magnificent Seven” Stocks to Buy Hand Over Fist Right Now