A Bull Market Is Coming: 3 Great AI Stocks to Buy Today and Hold Forever
Artificial Intelligence (AI) is all the rage right now. OpenAI's ChatGPT went viral late in 2022, attracting big investment from perennial software giant Microsoft and prompting internet search leader Google parent Alphabet to respond with its own AI services. An artificial intelligence arms race has begun.
This is great news for computing hardware stocks, many of which bottomed out in October 2022 and have been off to the races ever since. A new bull market is coming, and semiconductors, computing equipment, and AI are laying the groundwork for it. That's why three Fool.com contributors think Advanced Micro Devices (NASDAQ: AMD), Aspen Technology (NASDAQ: AZPN), and Super Micro Computer (NASDAQ: SMCI) are still a buy for the long haul.
Nicholas Rossolillo (AMD): Former underdog chip designer AMD just had an "epic" 2022. Led by its Epyc processors, the company's data center segment nearly doubled in size from $3.69 billion in revenue in 2021 to $6.04 billion in 2022. With new chips like the Instinct MI300 (an "accelerated computing" processor that combines a CPU and a GPU) coming out later in 2023 to address advanced computing and AI needs, the future looks bright for AMD's top moneymaking segment. Data center surpassed the client PC and laptop segment in both sales and operating profit earlier in the year, and the gaming segment in the fourth quarter.
Source Fool.com
