Forget Nvidia, Buy This Magnificent Stock Instead
It's no secret that Nvidia's (NASDAQ: NVDA) stock price has surged in recent years thanks largely to its association with artificial intelligence (AI), particularly the massive spending being done to expand data center computing power. Along with the price surge has come a surge in valuation for the stock.
If you are the type of investor who doesn't like buying hot stocks at hefty valuations but still wants some exposure to the spending jump related to AI and data centers, Johnson Controls (NYSE: JCI) might be the answer. Here's why this heating, ventilation, and air-conditioning (HVAC) specialist offers a great AI-related alternative to high-priced Nvidia.
Johnson Controls stock received some positive ratings from heavyweight Wall Street investment companies recently. Bank of America analysts upgraded the stock to a buy rating and increased the price target to $80 (from $76), while Morgan Stanley analysts initiated coverage on Johnson Controls with an $85 price target and an overweight rating.
Source Fool.com
