My Top-5 AI Growth Stocks to Buy Hand Over Fist for 2024
The S&P 500 recently reached a new record high, signaling a bull market is here, and that means it's a fantastic time to bet on growth. Bull markets tend to favor growth stocks, and history shows us these times of market gains last longer than bear markets -- on average almost three years versus nine months. So there's reason right now to load up on stocks that may excel in this sort of environment and benefit from the momentum.
That's why I've got my eye on companies involved in the high-growth area of artificial intelligence (AI) from chipmakers that power AI tools to companies using this technology to improve their operations. At a compound annual growth rate of about 21%, the AI market is forecast to reach more than $2 trillion by 2030, according to Fortune Business Insights. Companies investing now could greatly benefit down the road -- and so could you. Here are my top-five AI growth stocks to buy hand over fist for 2024.
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