From NASDAQ.:

Investor optimism about the U.S. economy and inflation cooling down in 2024 have driven the S&P 500 to new highs almost daily. Many technology growth stocks are leading the rally, and Advanced Micro Devices, CrowdStrike, and Salesforce are likely to continue rising in 2024.

AMD is capitalizing on the shift to cloud-based services, with a significant increase in market share of server CPUs and revenue. The recent launch of the Instinct MI300 GPUs tailored for AI workloads is projected to surpass $2 billion in sales in 2024. The company is also focusing on AI infrastructure and expects significant growth in the market.

CrowdStrike is experiencing strong demand for its Falcon platform, especially in cloud security. It surpassed the $1 billion sales milestone in the Amazon Web Services marketplace, showing its success in the rapidly growing cloud security market. The company has a high level of scalability, ease of deployment, and AI-driven capabilities, as well as a robust partner ecosystem.

Salesforce is a leading player in cloud-based customer relationship management and is seeing substantial growth in industry clouds, Mulesoft, and Einstein AI. The company’s focus on industry-specific cloud solutions is driving significant growth in annual recurring revenue, while Mulesoft and Einstein AI are showing momentum. Salesforce is also shifting its focus to balanced revenue and profitability.

Before investing in Advanced Micro Devices, investors should note that it was not identified as one of the 10 best stocks to buy now by The Motley Fool Stock Advisor analyst team. The service has a track record of providing guidance on building a successful portfolio, and its returns have significantly outperformed the S&P 500 since 2002.

Overall, the growth prospects of Advanced Micro Devices, CrowdStrike, and Salesforce make them attractive picks for 2024, despite some caution about AMD’s stock in the short term. Each stock has clear growth catalysts and is well-positioned to capitalize on favorable industry trends and emerging technology.



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