Top 5 AI Stocks To Buy (Early 2024)
Summary
TLDRThis video outlines the top 5 AI stocks with massive growth potential in 2024. It profiles Adobe's innovative generative AI tool Firefly, cybersecurity leader CrowdStrike, groundbreaking voice recognition company SoundHound AI, data analytics juggernaut Palantir, and Nvidia, an essential backbone of AI development. After analyzing each company's financials, market opportunity, and valuation, the host argues these picks have clear catalysts and upward momentum. He advises gradually accumulating shares on dips with prudent risk management rather than chasing unsustainable runs.
Takeaways
- 😊 The video covers the top 5 AI stocks set to dominate in 2024
- 📈 Adobe is an AI stock pick due to its new generative AI tool Firefly
- 🔒 CrowdStrike is a cybersecurity leader with strong financial growth
- 🗣 SoundHound AI stands out for its advanced voice recognition capabilities
- 📊 Palantir provides data analytics software used by major institutions
- 💻 Nvidia GPUs enable the computational power needed for AI development
- 😃 Good entry prices are provided for each stock pick in the video
- ⏳ Long term growth potential is emphasized over short term hype for these stocks
- 💰 Strong financials are highlighted as a key factor for the companies discussed
- 🤝 The video recommends Mumu trading platform for its range of features
Q & A
What are the key criteria used to select the top 5 AI stocks?
-The criteria used were: clear catalysts/events coming up, relentless momentum, clearly uptrending business model, or other clear reasons to buy the stock.
What does Adobe Firefly allow users to do?
-Adobe Firefly allows users to easily generate new graphics, color combinations, image expansions, and text effects in Adobe apps like Photoshop and Illustrator using simple text prompts.
How has CrowdStrike contributed to cybersecurity?
-CrowdStrike has played a crucial role in investigating high-profile cyber attacks like the DNC hacks in 2016. It has also been actively involved in identifying and mitigating threats linked to Russian intelligence services.
What makes SoundHound AI's voice recognition technology stand out?
-SoundHound AI's technology stands out for its ability to understand very natural human voice across various platforms and use cases like restaurant ordering, automotive solutions, and general voice assistance.
What are some key metrics highlighting Palantir's growth?
-Key metrics include: 2.23 billion in revenue for 2023 (70% increase in US commercial revenue from Q4 2022 to Q4 2023), 305 million in adjusted free cash flow, 3.7 billion in cash reserves and no debt.
Why is Nvidia critical for AI development?
-Nvidia GPUs offer the computational power necessary for deep learning and AI algorithms, enabling faster processing of large datasets. This capability is essential for training complex neural networks.
What were Nvidia's key financial highlights in its latest earnings report?
-Key highlights were: 22% revenue increase to $22.1 billion, 49% data center revenue growth, 126% increase in full year revenue to $60.9 billion, 769% increase in net income, and 765% increase in earnings per share.
What platforms does Palantir offer?
-Palantir offers two platforms called Gotham and Foundry that are utilized across over 40 industries worldwide.
What incentives does M1 Finance offer for new signups?
-New M1 Finance signups get up to 15 free stocks, 5.1% base APY on uninvested cash, and 3% extra APY for 3 months.
What is the average analyst price target for Adobe stock?
-The average analyst price target for Adobe (ADBE) stock is $653.
Outlines
😊 Introducing top 5 AI stocks to buy
The paragraph introduces the top 5 AI stocks to buy in 2024 that have growth potential. It mentions stocks like Adobe, CrowdStrike, SoundHound AI, Palantir, and Nvidia. It asks viewers to do their own research before investing and requests them to like, subscribe and comment on the video.
👍 CrowdStrike is a strong cybersecurity buy
The paragraph discusses cybersecurity stock CrowdStrike (CRWD) that offers cloud workload and endpoint protection. It talks about CrowdStrike's strong fundamentals including 35% revenue growth, 148% increase in net income. It notes top analysts ranking it a strong buy around current prices.
👂 SoundHound AI has huge upside potential
The paragraph discusses SoundHound AI (SOUN) which is a leader in voice AI technology, with ability to understand natural language. It highlights Nvidia's stake and collaboration with SoundHound for enhancing its voice capabilities. It notes SoundHound's current momentum cycle and huge long term upside.
🔮 Palantir is a long term AI powerhouse
The paragraph discusses Palantir (PLTR) and its platforms Gotham and Foundry used by top institutions for data analytics. It highlights Palantir's diverse clientele, 70% jump in US commercial revenue, and solid growth fundamentals. It notes Palantir has chance to be a mega-cap and gives buy zones below $20 or $25.
📈 Nvidia remains top AI stock pick
The paragraph discusses Nvidia (NVDA) which is critical for AI due to its computational power for neural networks. It highlights Nvidia's revenue growth, data center growth, increasing profits and EPS. It advises accumulating NVDA slowly on dips despite its strong upside potential.
Mindmap
Keywords
💡AI stocks
💡generative AI
💡cybersecurity
💡voice AI
💡data analytics
💡deep learning
💡GPU
💡profit growth
💡stock valuation
💡due diligence
Highlights
Adobe recently introduced Adobe Firefly, which has really put it into the ring of AI leaders.
CrowdStrike has played a crucial role in investigating high-profile cyber attacks like the DNC hack.
SoundHound AI stands out with its voice AI technology, particularly in solutions like their restaurant ordering system.
Nvidia continues to hold a big stake in SoundHound AI, underscoring strategic alignment between them.
Palantir serves major defense institutions and commercial giants, with platforms used across 40+ industries.
Palantir has shown very impressive growth, with a growing list of clients and strong pipeline of contracts.
Nvidia holds an approximate 87% share in the GPU market, far outpacing competitors.
Nvidia is essential for AI because its GPUs offer the power for deep learning and AI algorithms.
Nvidia's profits are simply rising way faster than its stock price.
Nvidia reported record $22.1 billion revenue in Q3, a 22% increase year-over-year.
Nvidia's earnings per share and net income have surged massively year-over-year.
It's best to accumulate Nvidia stock slowly on dips rather than chase momentum.
Adobe, CrowdStrike, SoundHound, Palantir, and Nvidia are top AI stocks to watch.
Moomoo offers essential trading tools like market data, analysis, alerts and more.
Sign up with Moomoo using the link for free stocks and extra cash bonuses.
Transcripts
you better buckle up folks because in
today's video we are going to go through
the top five AI stocks for massive
growth in 2024 now these stocks all have
either clear catalysts clear events
coming Relentless momentum a clearly
uptrending business model or other clear
reasons to be bought some you've heard
of some you haven't some are big some
are small but all are extremely solid AI
picks I'll present each ticker what
price I believe each are good deals at
and then you need to go off and do your
own due diligence and form your own
opinions remember even the best stocks
go up and down in cycles and so if you
aren't employing smart risk management
and doing your own research and
preparing yourself well you're simply
going to get hurt and the only thing I
ask in return for all the work that goes
into making a video like this is that
you hit that ravishing like button and
also don't forget to subscribe also make
sure to let us know what your favorite
play ideas are in the comment section
down below let's go ahead and start with
number five adbe Adobe now you probably
don't think of adobe when you think of
AI stocks but it is actually one and it
is one of the most unique it's
increasingly a player in what's called
generative AI you probably know Adobe
for Photoshop or a number of its other
products within its Creative Cloud but
Adobe just introduced Adobe Firefly
which has really really put it into the
Ring of AI leaders Adobe Firefly is a
tool designed to empower creatives by
making it faster and easier to explore
create and iterate designs through the
Firefly web app it enables the
generation of new graphics color
combinations image expansions and text
effects in Adobe apps like Photoshop and
illustrator using simple text prompts
I've been using Adobe Photoshop myself
for years and quite frankly you can tell
that I make all these thumbnails myself
and I only really know how to do the
basics and something like a firefly can
help non-s savy users like myself design
things they're envisioning without
having to learn all the really
complicated technical stuff that many of
us have no patience for now Adobe says
users have already generated millions of
images using it since its launch last
March and it's likely in my view to
expand dramatically in coming quarters
and years in terms of the overall
business Adobe Creative Cloud
subscription base has grown impressively
to over 33 million paid members
demonstrating Adobe strong Market
position and the widespread adoption of
its services among creative
professionals worldwide very very
well-known and established brand name
that shoots out profits Adobe reported a
record revenue of
19.41% year-over-year growth this fourth
quarter alone saw a revenue of 5.05
billion their digital media segment
including Creative Cloud and document
Cloud was a significant growth driver
Adobe just reported generating 7.3
billion in operating cash flows during
this previous reporting year showcasing
its financial robustness and operational
efficiency so what exactly is a good
price for Adobe adbe well adbe is in a
nice selloff right now going from 638 to
530 I would argue anything at that key
495 level and below is a solid deal in
the 500 you're okay but above 600 you're
eating too much into your upside the
average analyst price target for adbe is
at 653 and if you're below 500 you have
some 32% of upside just to get to that
analyst price Target so if you're
looking at the stock you want to get it
somewhere at that key 495 level if not
below number four crwd crowd strike now
crwd is on a nice dipoo making it super
relevant right now for dip buyers this
company is a renowned cyber security
technology company that has made a
significant Mark in the field of cloud
workload and endpoint security threat
intelligence and Cyber attack response
Services founded with a mission to
reinvent security for the cloud era
crowd strike developed the crowd strike
Falcon platform which is a cloud native
intelligent security solution this
platform is designed to detect threats
and stop breaches positioning the
company as a leader in the space of
cyber Security Solutions that protect
and enable the Technologies driving
modern Enterprises with more and more
complex software and technology and AI
while you have more and more complex
vulnerabilities and crowd strike is
helping solve that problem the company
has experienced substantial growth and
recognition over the years crowd
strike's growth is also evident in its
funding rounds and valuation increases
over the years as well before going
public the company raised a total of 480
million buck Buck through various
funding rounds with significant
investments from Google in its series C
funding round by 2019 crowd strikes
valuation surpassed 3 billion
highlighting its rapid growth and the
confidence investors have in its
business model and services in terms of
its very very well-known contributions
to cyber security crowd strike has
played a crucial role in investigating
high-profile cyber attacks cyber attacks
including the Democratic National
Committee cyber attacks and has been
actively involved in identifying and
mitigating threats linked to Russian
intelligence Services making it one of
the top companies people think of today
when they think of cyber security
financially and what's really the most
important here is that crowd strike has
shown remarkable performance as of the
latest update in terms of the latest
earnings report well crowd strike
reported 35% increase in year-over-year
Revenue 148% increase in net income 145%
increase in diluted EPS a 135% increase
in net profit margin 105% increase in
operating income the company's focus on
cloud delivered Security Solutions its
successful track record in stopping
breaches and its continuous innovation
in cyber security Technologies make it a
notable player in the market and one
that you need to have on your radar
what's a good price to buy the Charlie
charito according to nasdaq.com 44
analyst rank crwd as a strong buy and
while the price Target is at about the
current price the truth is that analysts
tend to rush to upgrade the stock as it
reports beats and it's scheduled for
another report on March 5th which I
believe it'll beat on again and most
likely I think you're going to see the
stock go up a lot more just as all the
other companies in similar sectors and
in related sectors have gone up after
their earnings not all of them but most
of them right so now is an interesting
time to check out the stock number three
sound sound hound AI so s is a leader in
advanced voice enabled AI technologies
that enhances user interactions across
various platforms soundt AI stands out
with its voice AI technology
particularly in Solutions like their
restaurant ordering system Automotive
Solutions and various other voice
assistance markets there's a lot of
competitors in the space but their
system stands out specifically because
of its ability to understand very very
natural human voice and SoundHound AI
recently came into the spotlight again
because of the Revelation that nvda
continues to hold a big stake in it and
the two have a very very long history
nvda was one of its early funders and
nvidia's belief in sound toown AI
underscores a strategic alignment
between the two companies particularly
in leveraging nvidia's advanced GPU
technology for enhancing sound hounds
voice and AI capabilities this
collaboration shows sound Hound's unique
position in the voice recognition market
and Nvidia support emphasizes the
potential they see in sound hounds
technology and Market approach so what's
a good price for the sound of the Hound
well average price target for s n
according to tip ranks is at
$467 my take is it'll be able to climb
way way higher than that but it's going
to take some time and there's going to
be Cycles right now s is on a momentum
cycle which is unlikely to take it below
$3.50 again once you get a big Panic
sale though you'll certainly get to that
but until then this current momentum is
going to take you to higher and higher
highs and that's probably going to last
a few weeks at least my suggestion tight
stop loss if you're playing momentum
right now or simply wait until until the
next downturn for a good dip buy the
beautiful thing about the E and flow of
markets is you always get opportunities
to benefit from Euphoria and dysphoria
cycles and with this stock it's no
different with this stock you have a lot
of upside over the long-term time
Horizon and you have some short-term
momentum to play off of as well and
you're going to have some short-term
dips to get an even better deal at as
well which means this stock is a win-win
win for everybody all around number two
paler pltr now paler in my view has a
big chance of becoming a mega cap one
day in an era where data is more
valuable than gold paler technology
stands to make a killing paler harnesses
the power of AI to unlock the Mysteries
hidden within vast oceans of data with a
long and lucrative track record of using
its software to help government and
Commercial sectors to make more informed
decisions paler is not just any stock
it's a gateway to the future of
technology and security Now hyperbole as
side look folks paler serves a diverse
clientele including major defense
institutions like the US Army and
Commercial Giants such as IBM and Amazon
with 149 major customers across
government and Commercial segments paler
platforms Gotham and Foundry are
utilized across more than 40 Industries
worldwide obviously it's very very
difficult for folks like you and I to
understand all the complexities that go
into big data analytics but when we're
looking at it from a business
perspective and we're seeing all of
these major institutions using their
platforms well that's enough proof of
concept for us you look at the actual
numbers paler has shown very very
impressive growth they've got a growing
list of clients and a strong pipeline of
both government and commercial contracts
paler revenue streams are both diverse
and robust a lot of people complain
about their government streams but quite
frankly I mean if you look at the
overall cold hard math the overall
picture paler is growing rapidly with
2.23 billion in revenue for 2023 and a
notable 70% increase in US commercial
revenue from Q4 2022 to Q4 2023 well
paler demonstrates nothing but insane
strength in growth and an exponential
trajectory the company's robust
Partnerships and 305 million in adjusted
free cash flow coupled with 3.7 billion
in cash reserves and no debt underscore
its solid foundation and growth
prospects in the AI domain growth aside
when you're seeing a company with 3.7
billion in cash and cash reserves and
equivalents and no debt well you're
seeing a company that's responsibly run
and ready for bad periods of economic
hardship now in terms of price we've
been covering paler for years and I've
said paler is a deal is a good deal to
buy at almost every price area possible
during big dips during big rallies
during stagnation and the reason for
this is because I see the long-term
trajectory this company is on and I
believe that really even at all-time
highs for the stock the company's going
to be trading at many many many many
multiples higher I made a video a few
weeks ago on where I see paler going in
the short term and by the start of 2025
I see it at 51 bucks but over the coming
years and coming into the coming decades
paler in my opinion has a strong shot at
being a mega a mega cap but if you're
looking at short-term momentum and
you're looking out into 2025 well I
believe that it's going to be at 51
bucks so with that in mind in my opinion
at $25 or below you have more than a
double and upside potential at below 20
even better right so if you really want
to be very very cheap on this one I
would argue below 25 or below 20 okay
now number one nvda so there is perhaps
no stock in the market with more actual
real day success and future growth
potential in the AI Rush than Nvidia
Nvidia is essential for AI because its
gpus offer the computational power
necessary for deep learning and AI
algorithms enabling faster processing of
large data sets this capability is
critical for training complex neural
networks making Nvidia a Cornerstone of
AI research and development across
various Industries which are booming
right now in terms of formidable
competition there really isn't much I
mean Nvidia holds an approximate 87%
share in the GPU Market far outpacing
competitors like AMD and Intel now one
of the biggest mistakes that people have
been making for the last year plus with
nvda stock is looking at its price and
the insane trajectory it's been on and
assuming that it's an unjustified hype
stock that should be shorted while hype
certainly plays a role in nvidia's Rise
well the problem with assuming that
Nvidia is all hype is that its profits
are simply Rising way faster than than
its stock is the truth is folks that our
economy whether you acknowledge it or
not is in the middle of a fundamental
shift where more and more corporations
need to adopt to AI or die and that's
only going to get worse and worse and
worse and nvidia's PE ratio has been
going down since mid last year despite
the stocks rapid rise simply because
again the profits are rising way way
faster than the stock can adjust so as
fast as Nvidia stock is going up it's
quite frankly just getting cheaper if
you look at this chart from Bloomberg it
shows that you're getting more earnings
than you have and many points in the
last year for every dollar of market cap
at the earnings report yesterday nvda
reported that quarterly Revenue reached
a record $22.1 billion a 22% increase
from Q3 and a 2 165% Surge from the
previous year that data center Revenue
achieved a record 18.4 billion for the
quarter marking a 27% rise from Q3 and a
staggering 49% growth year-over-year
that annual financials full year Revenue
stored by 126 to$ 60.9 billion with gap
EPS of 586 and non-gap eps up 288 from
the previous year that gross margin
improved to 76% in Q4 from 74% in Q3 and
up significantly from 63.3% the previous
year that net income Q4 net income
jumped to 12.3 billion a 33% increase
from Q3 and a
769 increase year-over-year that
earnings per share Gap diluted EPS for
Q4 was $493 up 33% from Q3 and up
765 from the previous year so the
problem right now is a lot of folks in
the market are still looking at nvda and
they're saying wow this 275% increase in
stock price year-over-year is simply not
sustainable the problem is that a lot of
its underlying metrics are up a
correspondingly larger amount when your
net income is jumping 769 year-over-year
and expect it to continue ballooning
when metric after metric after metric
suggests more and more exponential
growth well it's very very difficult to
say that a 275% valuation increase isn't
going to continue to see upside nobody
is going to say that it's going to
continue rallying to 275% or 400% or
500% a year of course not there's only
so many trillions in market cap a
company can get but when you're looking
at a company like Nvidia and you're
thinking it's going to top out now and
never go up again and then you're
looking at all the potential profits it
can make if AI continues to balloon well
something's got to give and what's going
to give is that nvda over the coming
years and especially over the next
decade is going to hit newer and newer
and higher and higher high it's just
simply going to have big dip Cycles in
between so if you are looking for an AI
stock to really benefit from this
massive economic shift we're seeing
right now while nvda continues to be one
of the biggest now with all of that
aside that doesn't mean that it's okay
to chase let nvda momentum take a
breather there is no rush here my view
on this is it's best to accumulate
stocks like nvda slowly on dips and
simply enjoy the momentum with clear
risk management and a clear time Horizon
if you're somebody playing the
short-term momentum have very very tight
stop losses and just lock in profits as
it goes up even if you believe a company
is going to 10x in the next 10 years who
cares buy it slowly on dips why are you
in such a rush that is my viewpoint nvda
again I get that it's up a lot but if
you look at it by many other metrics
it's cheaper than it has been in other
points of the last year and by quite a
lot so make sure that when you're
looking at a company that's going up
look at the underlying numbers and see
if it justifies it with with nvda yes
there's a lot of hype pushing the stock
up right now but if you look at the
valuation and you look at how fast its
underlying business is growing well
there's a lot of reason for that hype
and if you look at what it's likely
going to be doing in the coming years
there's a lot of justification as well
so things to think about and there you
have it folks the top five AI stocks set
to dominate in 2024 from adobe's
Innovative leap into generative AI with
firefly through crowd strike's
unwavering commitment to cyber security
to SoundHound AI groundbreaking voice
technology to paler data analytics
Supremacy and topping it all off with
Nvidia well you got a lot of companies
to look over today and do your own due
diligence on let us know what your
favorite stock is down below and in
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a great rest of your day and we will see
you in the next video we appreciate each
and every single one of you make sure to
hit that ravishing like button and
subscribe and we'll see you next time
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