Investment experts are predicting a surge in growth for tech stocks as artificial intelligence (AI) continues to dominate the market. JPMorgan analysts recently upgraded Dell Technologies Inc and Arista Networks, citing their strong positioning in the AI industry. Dell is expected to benefit from the AI-led Compute investment cycle, while Arista Networks is a top pick due to its accelerating growth from AI implementation.
BMO analysts also weighed in on the AI trend, highlighting Alphabet Inc as the best-positioned company to benefit from the proliferation of generative AI and large language models. Google’s integration of machine learning into its core products gives Alphabet a significant advantage in the industry.
Amazon.com Inc is another major player expected to reap the benefits of AI and machine learning. The company’s investments in Trainium and Inferentia chips, as well as its middle layer of the stack in Bedrock and CodeWhisperer, position it for success in the e-commerce industry.
The positive sentiments surrounding AI are also reflected in Morgan Stanley’s Q4 CIO survey. CIOs have elevated AI and machine learning to the forefront of their Priority List, with 68% acknowledging its impact on their existing IT budgets. This aligns with the anticipation of increased growth in IT spending for 2024.
Bank of America analysts have even raised the price target for Marvell Technology Inc, attributing the positive revision to the progress of the custom AI chip ramp. Marvell’s discussions with industry leaders indicate promising trends in cloud AI demand, further driving optimism for the company’s future growth.
Macquarie also joined the chorus of optimism, initiating coverage of Baidu Inc with an Outperform rating. The company’s emphasis on its core advertising business and strong AI capabilities position it well for a stable market share and potential growth in advertising budgets.
Overall, the surge in AI investments is fueling optimism for tech stocks across various sectors. As AI continues to dominate the market, companies that are able to leverage this technology effectively are expected to see significant growth in the coming years.
The source of the article is from the blog elperiodicodearanjuez.es