Two growth stocks, Nvidia and Amazon, are recommended due to strong performance in 2024

From Nasdaq: 2024-07-15 09:12:47

Investors have experienced a wild ride in 2024, with the Nasdaq and S&P 500 fluctuating due to factors like the AI market and inflation. The CPI decreased 0.1% in June but rose 3% year-over-year. Tech stocks fell after the report, creating a potential buying opportunity for growth stocks like Nvidia and Amazon.

Nvidia has seen a 157% stock increase in 2024, driven by its dominant role in AI. Its revenue and operating income soared in the latest quarter, fueled by demand for GPUs. With solid positions in AI, gaming, and automotive, Nvidia is a screaming buy in 2024 and beyond.

Amazon holds a leading 31% market share in cloud services, potentially giving it an edge in AI. Its stock has risen by 53% since last July, making it a better value than you might think. With a lower P/S ratio compared to Microsoft, Amazon is a no-brainer investment this year.



Read more at Nasdaq: 2 Growth Stocks That Are Screaming Buys in 2024 and Beyond