A Bull Market Is Here: 2 AI Stocks to Buy Like There's No Tomorrow
The S&P 500 index hit several new highs in January, pushing the index into bull market territory. Every bull market is defined by a theme. The 1990s was the decade to own internet stocks; the 2000s were the decade of e-commerce; the 2010s were the decade of cloud computing, and the 2020s are rapidly shaping up to be the decade of artificial intelligence (AI).
Companies feel a sense of urgency to invest in this revolutionary technology for fear of being left behind by competitors. Market intelligence specialist IDC forecasts spending on AI solutions will reach over $500 billion annually by 2027.
Two top stocks to buy right now that can take advantage of that projected spending growth are Super Micro Computer (NASDAQ: SMCI) and Nvidia (NASDAQ: NVDA). These companies are certainly growing like there's no tomorrow, and yet their stock prices still trade at relatively reasonable valuations that point to more gains in 2024 and beyond.
Source Fool.com
