From Nasdaq: 2024-05-16 05:04:00

ServiceNow (NYSE: NOW) and Google parent Alphabet (NASDAQ: GOOG, NASDAQ: GOOGL) are leading tech companies with strong financial results. ServiceNow’s generative AI solutions drive revenue growth, while Alphabet’s AI investments show promise. Both stocks offer growth potential, making them smart long-term investments for 2024.

ServiceNow’s stock has grown by 1,400% in the past decade, driven by 35% annual revenue growth. The company’s generative AI products secure major deals, supported by a partnership with Microsoft. With a 24% year-over-year growth in subscription revenue, ServiceNow is a standout in the digital workflow market with high future growth prospects.

Alphabet’s revenue and earnings rose 15% and 61% year over year, driven by AI investments and Google Cloud profitability. With new AI models enhancing search results and enterprise services, Alphabet is well-positioned for continued growth. Analysts predict a 19% annualized earnings growth for Alphabet, making it a solid investment with potential for doubling in five years.



Read more at Nasdaq: 2 Supercharged Tech Stocks to Buy Without Any Hesitation