MU - 2 Soaring Artificial Intelligence (AI) Stocks That Aren't Just Hype
2024-07-06 04:09:00 ET
It seems that all modern technological innovations undergo a hype cycle of sorts. The most famous is the dot-com bubble of the late 1990s and early 2000s. The Nasdaq more than doubled from the beginning of 1997 through the March 2000 zenith. Many think an artificial intelligence (AI) bubble is forming now; many others disagree. One of the key differences between companies now and those during the dot-com bubble is profitability.
While many tech companies back then had little sales and no profits, dozens of companies in the AI industry today are cash-flow positive, have soaring revenue, or are highly profitable -- not just hyped. This is a critical distinction that can help guide your investment strategy. Here are two companies that fit this mold.
If there is one thing that AI needs, it is data, and this data needs memory -- tons of it. Micron (NASDAQ: MU) is a global leader in providing DRAM (dynamic random access memory) and NAND (flash memory), which are used in smartphones, PCs, memory cards, data centers, etc. After a rough fiscal 2023, Micron is back in a major way.
For further details see:
2 Soaring Artificial Intelligence (AI) Stocks That Aren't Just Hype