From Nasdaq: 2024-06-13 04:35:00

In a bull market, the S&P 500 saw gains led by “The Magnificent Seven” tech stocks like Amazon, Apple, and Nvidia. Two stand out as strong buys due to their AI dominance. Nvidia holds 80% market share in AI chips, while Amazon benefits from AI in e-commerce and cloud computing, making both solid investments for the future. With AI being a key growth area, both companies are poised for continued success and growth.

Nvidia is a top pick for investors, dominating the AI chip market and experiencing triple-digit earnings growth. With the AI market projected to exceed $1 trillion by 2030, Nvidia’s focus on innovation and maintaining its lead in AI technology makes it a strong buy at 44x forward earnings estimates.

Amazon leverages AI to enhance efficiency in e-commerce operations and cloud computing through AWS, the world’s largest cloud provider. With AWS reporting a $100 billion annual revenue run rate, Amazon’s commitment to AI and monetizing it make the stock a valuable investment at 41x forward earnings estimates.

Investors looking to capitalize on AI growth should consider Nvidia and Amazon as top choices for their portfolios. Both companies are positioned for long-term success in the AI market, making them attractive investments at their current valuations.



Read more at Nasdaq: Here Are My Top 2 Magnificent Seven Stocks to Buy Hand Over Fist