Analyst recommends Nvidia and AMD as top AI stocks ahead of earnings.

From TipRanks: 2024-07-16 13:47:51

In late fall 2022, OpenAI introduced ChatGPT, marking the start of the generative AI revolution. This AI can create original content, images, and music based on real-time natural-language instructions, changing the game for content creation, data processing, and consumer internet applications. Analysts like TD Cowen’s Matt Ramsay recommend AI-adjacent stocks like Nvidia and AMD.

Nvidia, the world’s leading semiconductor company, has seen massive success with its AI-capable processing chips. The recent stock split brought shares down to $126, with strong earnings reports showing $26 billion in revenue for fiscal 1Q25. Analyst Matt Ramsay rates NVDA as a Buy with a $165 price target, expecting a 31% gain.

AMD, a top semiconductor company, has been thriving with its high-capacity processor chips, earning $5.5 billion in revenue for 1Q24. The company is known for its MI300/400 chipsets and Ryzen AI chips. Analysts anticipate a bottom-line EPS of 68 cents and revenue of $5.72 billion. Ramsay rates AMD as a Buy with a $210 price target for a 19% gain in the next 12 months.



Read more at TipRanks: Nvidia and AMD: Matt Ramsay Chooses the Best AI Stocks to Buy Ahead of Earnings