From Nasdaq:

Investors looking for high potential AI investments in 2024 have some standout options. International Business Machines (IBM) has strategically focused on AI and cloud computing, Nvidia is seeing surging revenue with $20 billion in sales expected this year, and ASML Holdings has underperformed but could see growth in the next year as several new leading-edge factories come online.Nvidia has seen a 206% increase in revenue, with management predicting $20 billion in sales for 2024. While there is debate about whether the company’s sales can continue to rise, Nvidia looks like a reasonably valued semiconductor stock, traded at 25 times next year’s expected earnings per share, expected to grow 50% in 2024. IBM has shifted its assets to the high-growth “strategic imperatives” of cloud computing, data security, analytics, and AI, is set to make up for its strategy-shifting pain with robust gains in the years to come, and is trading at just 2.4 times trailing sales. Lastly, ASML Holdings, despite underperforming compared to other AI stocks, is moving into a year of expected growth and has a monopoly on EUV technology needed to make chips below 7nm. It’s forecast to see increased demand for its machines as chip manufacturers race to produce chips at the 2nm node in 2025.



Read more: 3 Great AI Stocks to Own in 2024