S&P 500 hitting all-time high with excitement over AI stocks like Alphabet, Meta, and Taiwan Semiconductor

From Nasdaq: 2024-06-01 06:45:00

The S&P 500 reached a new all-time high, sparking investor hesitation. However, part of this surge can be attributed to excitement over artificial intelligence (AI). Three standout AI stocks include Alphabet, Meta Platforms, and Taiwan Semiconductor, all showing strong growth potential. These companies are driving market momentum despite current highs.

Alphabet (GOOGL) continues to dominate in AI, recently launching generative AI features to enhance Google search. With a 156% revenue growth in Q1 and solid shareholder initiatives, Alphabet remains a top pick in the S&P 500 at a slight premium to the market.

Meta Platforms (META) capitalizes on advertising revenue from social media sites like Facebook and Instagram, with Q1 results showing a 27% revenue increase. The company’s Reality Labs division and strategic AI products like smart glasses hint at further growth potential in the AI market.

Taiwan Semiconductor (TSM) plays a vital role in AI technology by producing essential semiconductors for major tech companies. With a 2nm design on the horizon and projected 50% annual growth in AI-related business, Taiwan Semiconductor is a key player in the high-tech industry and a strong investment option for the future.



Read more at Nasdaq: 3 S&P 500 Artificial Intelligence (AI) Stocks You’ll Regret Not Buying Now