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Exploring the High-Flyers of 2024 Exploring the High-Flyers of 2024

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Every savvy investor seeks companies with growth potential, dividends, diversification, and value, aiming for resilient, profitable, and expanding businesses. Diving into large-cap companies offers stability, but mid-cap alternatives shouldn’t be overlooked, especially in volatile markets, where diversification is key.

Advanced Micro Devices (AMD)

Advanced Micro Devices, Inc. (AMD) logo in the building at CNE in Toronto. AMD is an American semiconductor company.

Source: JHVEPhoto / Shutterstock.com

Renowned for its seamless computing and graphics products, Advanced Micro Devices (NASDAQ:AMD) stands as a must-have in every investor’s portfolio. With its cutting-edge AI and machine learning innovations, AMD shines bright in the tech world.

AMD’s bright outlook for 2024 after a 30% surge has captured the market’s attention, with the Q4 earnings report exceeding expectations. The company’s projections for Q1 revenue, especially from AI chip sales, fuel optimism. Acknowledged by a leading player in cloud computing, AMD’s AI chips have bolstered its position significantly. Analysts foresee a bullish trend for AMD, projecting considerable growth potential.

Amid varied expectations on AMD’s future, one thing remains constant: its stronghold in the AI domain, making it an appealing long-term investment option for many.

Meta Platforms (META)

In this photo illustration the Meta logo seen displayed on a smartphone and in the background the Facebook logo

Source: rafapress / Shutterstock.com

Meta Platforms (NASDAQ:META) weathered a storm in 2022 but emerged stronger in 2023, solidifying its position in the tech and AI industry. The notable growth in daily and monthly active users underscores Meta’s resilience and continued user attraction.

With Meta harnessing Nvidia’s GPUs to fuel its AI models, the demand for Nvidia’s hardware remains robust, hinting at sustained revenue streams for the chip giant. Meta’s strategic tech partnership exemplifies the symbiotic relationship between tech behemoths.

Alphabet (GOOG, GOOGL)

Alphabet (GOOGL) - Quantum Computing Stocks to Buy

Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) presents an intriguing investment opportunity, undervalued yet poised for growth. With a projected 48% surge in profits, Alphabet’s focus on AI development through its Gemini AI model and cloud growth is praiseworthy.

YouTube’s surge in ad revenue and Gemini’s AI capabilities underscore Alphabet’s market dominance, promising continued growth and a competitive edge in the AI space. Despite its intrinsic value suggesting investment opportunities, Alphabet’s price volatility may present occasions for strategic acquisitions.

On the date of publication, Chris MacDonald did not hold positions in the securities mentioned in this article. The opinions expressed are his own, adhering to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s extensive background in corporate finance and venture capital, coupled with his MBA in Finance, fuels his passion for uncovering undervalued growth prospects with a long-term investing horizon. His financial analyst experience and investing fervor shape his conservative investment approach.

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The post 3 High-Flying Growth Stocks With Plenty of Room to Run in 2024 appeared first on InvestorPlace.

The views and opinions expressed are of the author’s own and do not necessarily reflect those of Nasdaq, Inc.

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