From Nasdaq: 2024-11-17 12:00:00

The stock market is buzzing with excitement for AI, with projections showing a potential $13 trillion boost to the global economy by 2030. While some AI stocks have surged, there are still solid options worth investing in, like Taiwan Semiconductor, Tesla, and Qualcomm, as recommended by Fool.com contributors.

Taiwan Semiconductor, the world’s leading foundry, stands to benefit from the increasing demand for AI chips. With a forward P/E ratio of 28 and projected earnings growth of 31% annually, the stock presents a promising opportunity despite geopolitical risks.

Tesla, known primarily as an electric vehicle company, is making significant strides in AI. With revenue growth in multiple segments and investments in improving its Full Self-Driving technology, Tesla’s AI assets could propel the company to new heights.

Qualcomm, once overlooked, is now positioned as a top AI chip stock. Leveraging on-device AI capabilities in smartphones and diversifying into IoT, automotive, and PC chips, Qualcomm is experiencing growth and trading at a favorable P/E ratio of 18.

Investing in Taiwan Semiconductor may not be the best choice according to Motley Fool Stock Advisor analysts, who have identified 10 other stocks with potential for high returns. The Stock Advisor service offers a blueprint for success, with guidance on building a portfolio and regular stock picks that have outperformed the S&P 500 since 2002.



Read more at Nasdaq: The Artificial Intelligence (AI) Boom Isn’t Over. 3 AI Stocks to Buy Right Now.