From NASDAQ.: 2024-04-29 05:06:00

The artificial intelligence revolution is set to change the growth trajectory for corporate America. With AI’s ability to become smarter over time through machine learning, PwC analysts predict an additional $15.7 trillion in productivity gains and consumption-side effects by 2030.

Lawmakers in Congress are investing heavily in AI stocks, with Alphabet, Apple, Amazon, and Tesla being top choices. Alphabet, parent company of Google, saw $1.49 million worth of stock purchased by members of Congress last year, primarily due to Google’s dominance in the global search engine market.

Apple, despite being less reliant on AI, attracted $2.4 million in purchases by lawmakers in 2023. With CEO Tim Cook’s focus on subscription services and a market-leading share repurchase program, Apple continues to drive innovation and long-term outperformance.

Amazon, with $1.06 million in congressional purchases last year, shines in the cloud infrastructure service platform market through AWS. By deploying generative AI solutions, Amazon can tailor applications to better serve customers and sustain double-digit growth rates.

Tesla, though boasting first-mover advantages in the EV space, faces challenges with weakening demand and substantial price reductions. Despite continuous innovation, Tesla’s stock remains at risk of tumbling due to declining operating margins and slowed revenue growth in non-automotive segments.



Read more at NASDAQ.: 4 Artificial Intelligence (AI) Stocks Members of Congress Can’t Stop Buying (and Nvidia Isn’t 1 of Them!)