TSM - 2 Top Artificial Intelligence (AI) Stocks Ready for a Bull Run
2023-12-14 05:12:00 ET
Artificial intelligence (AI) has been the driving force behind the surge in technology stocks in 2023, leading to a 57% jump in the Nasdaq-100 Technology Sector index this year as several companies are benefiting -- or stand to benefit -- from the growing adoption of this technology.
Taiwan Semiconductor Manufacturing (NYSE: TSM) and Snowflake (NYSE: SNOW) are two companies that are witnessing the positive impact of growing AI adoption on their businesses. Shares of both companies are up 34% so far this year, but it won't be surprising to see them step on the gas in 2024 and deliver much stronger gains as AI starts having a stronger influence on their businesses.
Let's look at the reasons why these two tech stocks seem set for a bull run.
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2 Top Artificial Intelligence (AI) Stocks Ready for a Bull Run