AI stocks like NVDA and AMD have faced recent challenges, but long-term potential remains positive.

From Nasdaq: 2024-08-06 15:38:00

The AI trade has cooled off recently, impacting notable companies like Nvidia (NVDA) and Advanced Micro Devices (AMD) with adverse price action. Nvidia maintains positive quarterly results and sales, with a 73% increase in EPS estimates and revenue revisions. Also, AMD reports record Data Center sales of $2.8 billion, exceeding expectations and reflecting a 115% increase from last year. Despite recent pressure, both stocks present positive long-term gains potential due to robust fundamentals and fair valuations. Director of Research Sheraz Mian selects a company targeting millennials and Gen Z audiences as the “Single Best Pick to Double,” generating nearly $1 billion in revenue last quarter. This pick offers explosive upside potential and is well worth considering for investment.



Read more at Nasdaq: Are AI Stocks Still a Buy? NVDA, AMD