Most Popular

Top Stocks to Buy for Artificial Intelligence Exposure

Zacks Thematic Screens lets you dive into 30 dynamic investment themes shaping the future. Whether you’re interested in cutting-edge technology, renewable energy, or healthcare innovations, our themes help you invest in ideas that matter to you.

For those interested in viewing the Thematic lists, please click here >>> Thematic Screens – Zacks Investment Research.

Let’s take a closer look at the Artificial Intelligence theme and analyze a few stocks that the screen returned, such as Broadcom AVGO and Palantir PLTR.

Artificial Intelligence

Artificial Intelligence (AI) refers to the technology that enables computers and machines to simulate human intelligence and problem-solving capabilities to perform the cognitive functions usually associated with human minds.

In general, AI systems work by ingesting large amounts of data with fast, iterative processing and intelligent algorithms. It then analyzes the data using neural networks for correlations and patterns and allows the software to learn automatically from these patterns to make predictions.

This screen features diverse companies involved in AI, ranging from creators of software and hardware that power AI to those applying and utilizing this technology through automation, diagnostics, cognitive tasks, and more.

Please click here for a direct link to the Zacks Artificial Intelligence Thematic Screen.

Palantir Enjoys Business Momentum

 

Palantir builds software that empowers organizations toeffectively integrate their data, decisions, and operations. The company maintains a bullish outlook for its current fiscal year, with analysts revising their earnings expectations well higher over recent months.

Zacks Investment Research
Image Source: Zacks Investment Research

Its latest quarterly release brought post-earnings positivity, with the company exceeding both earnings and revenue expectations while also lifting its current-year sales outlook. Revenue soared 27% year-over-year, whereas adjusted EPS climbed 200%.

The company’s platform continues to be highly attractive, reflected by 41% year-over-year customer growth. Impressively, PLTR closed over 27 deals worth $10 million throughout the period, further reflecting snowballing demand.

Below is a chart illustrating the company’s sales on a quarterly basis.

Zacks Investment Research
Image Source: Zacks Investment Research

Broadcom Reports Record AI Revenue

 

Broadcom is evolving a broad portfolio of technologies to extend its leadership in enabling next-generation AI infrastructure. This includes foundational technologies and advanced packaging capabilities aimed at building the highest performance, lowest power custom AI accelerators.

See also  The Sparkling Skin Revolution: Microdermabrasion Devices Market InsightsThe Rise of Microdermabrasion Devices Market

The global microdermabrasion devices market appears to be on the cusp of a remarkable transformation, with projections indicating a surge towards a US$ 549.0 Mn milestone by the year 2031 at a commendable CAGR of 7.5%. This lucrative growth is not surprising, considering the widespread adoption of microdermabrasion devices for skin rejuvenation purposes. These devices, akin to skilled artisans, delicately exfoliate the skin, casting away dead cells and unveiling a radiant, youthful complexion beneath.

Revolutionizing Skincare with Microdermabrasion

Microdermabrasion devices, akin to magical wands, have been hailed for their remarkable benefits such as enhancing collagen production, accelerating skin cell turnover, and providing a swift and tailored exfoliation experience for individuals of various skin types. These tools are a cornerstone of skincare clinics, spas, and even personal grooming kits, offering a gateway to diminish fine lines, acne scars, and other blemishes that mar the skin's beauty.

A Glimpse into Market Dynamics

The microdermabrasion device market, akin to a bustling marketplace, is abuzz with the incessant churn of technological innovations, catering to the discerning needs of skincare enthusiasts. This realm has witnessed a seismic shift towards personalized skincare, with an increasing preference for at-home beauty treatments. The integration of cutting-edge technologies such as machine learning algorithms and advanced sensors has further enriched these devices, augmenting their therapeutic efficacy and ensuring a seamless user experience.

Capturing the Essence of Home Beauty Trends

In the contemporary era, characterized by a burgeoning demand for home-based beauty remedies, the microdermabrasion market has undergone a metamorphosis. Devices are being tailored to be more accessible, user-friendly, and harness the power of professional-grade rejuvenation techniques. This evolution is akin to an artist skillfully adapting to new mediums, as companies pivot towards crafting portable, on-the-go solutions that deliver salon-quality results at the user's convenience.

A Call to Innovation and Adaptation

In a landscape teeming with opportunities, success in the microdermabrasion market hinges on adept navigation through the winds of change. Pioneers in this field must hone their craft of innovation, tailored to meet the evolving needs of skincare enthusiasts. From personalized anti-aging solutions to regulatory compliance and global outreach, every stride towards progress must be guided by a commitment to excellence and consumer-centric values.

Embracing Challenges with Strategic Foresight

Market players are confronted with a medley of challenges, akin to navigating uncharted waters. From battling fierce competition to upholding stringent safety standards, the journey ahead is rife with obstacles and opportunities in equal measure. The key lies in leveraging R&D endeavors, forging strategic alliances, and amplifying brand visibility to carve a niche in this dynamic domain, where excellence is the touchstone of success.

Insightful Analysis of Global Market TrendsUnraveling Global Market Trends Through an Analytical Lens

The stock currently sports a favorable Zacks Rank #2 (Buy), with its earnings outlook shifting bullishly across the board over recent months.

Zacks Investment Research
Image Source: Zacks Investment Research

Like PLTR, its recent set of quarterly results brought post-earnings fireworks, with record revenue from AI products of $3.1 billion pleasing investors in a big way. The quarter’s results were driven by robust demand for its AI solutions, leading it to up its current year sales and adjusted EBITDA guidance.

Analysts have accordingly raised their current year sales expectations, with AVGO forecasted to enjoy 43% Y/Y sales growth in FY24. Below is a chart illustrating the company’s sales on a quarterly basis.

Zacks Investment Research
Image Source: Zacks Investment Research

Bottom Line

Zacks Thematic Screens lets you dive into 30 dynamic investment themes shaping the future. Whether you’re interested in cutting-edge technology, renewable energy, or healthcare innovations, our themes help you invest in ideas that matter to you.

Upon running the Zacks Artificial Intelligence Thematic screen, both stocks above – Palantir PLTR and Broadcom AVGO – were returned.

Research Chief Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.

Free: See Our Top Stock And 4 Runners Up

Want the latest recommendations from Zacks Investment Research? Today, you can download 5 Stocks Set to Double. Click to get this free report

Broadcom Inc. (AVGO) : Free Stock Analysis Report

Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research