NVDA - Wall Street Thinks These High-Flying Artificial Intelligence (AI) Stocks Are Headed Lower (Hint: Nvidia Isn't 1 of Them)
2024-07-01 05:50:00 ET
What's the modern-day equivalent to King Midas turning everything he touched to gold? Artificial intelligence (AI) is a top candidate. Many AI stocks have delivered sizzling gains over the past 18 months. Nvidia (NASDAQ: NVDA) is the most famous example, with the demand for its AI chips helping push the company's market cap above $3 trillion.
But all good things eventually come to an end. Although analysts still think Nvidia has some room to run, they're not as optimistic about every AI stock. Here are three high-flying AI stocks Wall Street thinks are headed lower.
Shares of Arm Holdings (NASDAQ: ARM) have skyrocketed more than 120% year to date. That gain isn't as great as Nvidia's, but it's in the same ballpark.
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Wall Street Thinks These High-Flying Artificial Intelligence (AI) Stocks Are Headed Lower (Hint: Nvidia Isn't 1 of Them)