Investing in the stock market can be a great way to grow your wealth over time, especially if you choose the right stocks. With the Nasdaq Composite index up 8% since the start of 2024, there are plenty of opportunities to capitalize on this growth trend. One sector that has been particularly exciting for investors is artificial intelligence (AI), which is driving innovation and growth across the tech industry.
At Extreme Investor Network, we believe that now is the perfect time to jump on this bandwagon and invest in companies that are poised to benefit from the AI boom. Here are three stocks that we think can help you get richer in 2024:
1. **Advanced Micro Devices (NASDAQ: AMD)**: As a leading chipmaker, AMD has been experiencing impressive growth over the past few years. The company’s revenue has skyrocketed by 240% in the last five years, and its free cash flow is up by 306%. With a strong focus on AI, AMD recently unveiled its MI300X AI graphics processing unit (GPU) to compete with industry giants like Nvidia. With projected earnings of over $5 per share by 2025, AMD’s stock price could see a 51% increase by next year. This makes it a solid buy for investors looking to capitalize on the AI trend.
2. **Intel (NASDAQ: INTC)**: While Intel has faced challenges in the past, the company is making a comeback with a new internal foundry model and a push into AI. Intel’s recent lineup of AI chips, including Gaudi3 and Core Ultra processors, shows that the company is serious about staying competitive in the market. With earnings projected to reach over $2 per share by next year, Intel’s stock price could surge by 67% by fiscal 2025. This makes it a must-buy for investors looking to diversify their portfolio with a strong chip stock.
3. **Amazon (NASDAQ: AMZN)**: Amazon’s stock has seen an impressive 81% increase over the last year, driven by its dominance in e-commerce and cloud services. As the operator of AWS, the company is well-positioned to capitalize on the growing demand for AI services. With projected earnings of $5 per share over the next two fiscal years, Amazon’s stock price could rise by 28% by fiscal 2025. While not as significant as AMD and Intel, Amazon is still a solid choice for investors looking to benefit from the AI market.
At Extreme Investor Network, we believe that investing in these three stocks can help you get richer in 2024. With a focus on AI and strong growth potential, these companies are well-positioned to deliver solid returns for investors. Don’t miss out on the opportunity to capitalize on the AI trend and grow your wealth in the coming year.
