Here are Rosenblatt’s best tech and AI ideas from the second half of the year
Rosenblatt is making its top artificial intelligence pick heading into the second half of 2024. AI has extended into the new year after lifting the broader market throughout 2023. Some key winners continue to build built on their price increases, with Nvidia and Super Micro Computer up 154% and 212% respectively. Here are some of the company’s top picks for the second half of the year, as AI shows no signs of slowing down: Rosenblatt named Advanced Micro Devices among his top picks. The company’s $250 price target implies an upside of about 57% for the stock from Thursday’s close. Among the reasons to buy the stock, analyst Hans Mosesmann cited a strong central processing pipeline and potential accelerated share gains. “We don’t need to argue that AMD is better than Nvidia (the green team is clearly at another level of AI enlightenment); we need to argue that AMD can capture a modest market share in the mid-teens.” teenager,” he wrote in a note. In the semiconductor space, Mosesmann also called Micron Technology one of the company’s top picks as the world enters one of its most important AI-driven memory cycles. MU YTD Mount Micron Stock This Year Shares of Micron have risen 58% this year but fell 7% on Thursday after the memory chipmaker shared guidance online. Many on Wall Street were hoping for a stronger outlook as AI boosts demand for memory. Analyst Barton Crockett highlighted Apple as a stock to watch in the second half of the year. Earlier this month, the company announced its long-awaited AI vision. Crockett sees the company’s strong security capabilities as an important feature consumers are looking for in AI. “Apple’s approach also appears to make the company immune to cost pressures at hyperscale companies, while allowing Apple to benefit from its investments, which are expected to increase another $40 billion by 2024,” he wrote. “Apple is using its own silicon for inference, is deploying target models for local AI, and is connecting with others to perform larger tasks.” He expects the new iPhone with AI capabilities to potentially drive a significant upgrade cycle and moderate growth in fiscal 2026. The company also named CrowdStrike, Five9 and Autodesk among its options for the second half. end of the year.
