Imagine a world where robots, super-smart computers, and fancy tech are shaking things up in every industry! And that is why, the search for the best AI stocks has increased a lot.
That is why, they were the best AI stocks in 2024 to put your money in.
From computers that learn on their own to talking appliances and self-driving cars, it’s like living in a sci-fi movie!
Companies not jumping on the AI bandwagon risk being left in the dust.
Loads of businesses are winning big with AI, but there are a few stocks that are basically the rockstars of the AI and automation scene.
Don’t miss out on the tech revolution!
Table of Contents
Top 11 Best AI Stocks You Can Invest in This 2024
Please note that the stock market is dynamic, and it’s crucial to conduct your own research or consult a financial advisor before making investment decisions.
However, after analyzing the current market trend here is a list of the best AI stocks to buy now in 2024.
1. Microsoft (NASDAQ: MSFT)
In 2019, Microsoft decided to splash a cool $1 billion on OpenAI.
Fast forward to January 2023, and rumor has it that Microsoft didn’t stop there—they jacked up their stake in OpenAI to a whopping 49%!
Not long after, they shook things up by tossing ChatGPT into their Bing search engine.
Hold on, it gets even more exciting.
By September 2023, Microsoft spilled the beans on their grand plan—they were merging their AI copilots into one epic experience called Microsoft Copilot.
Talk about leveling up!
But that’s not all.
OpenAI is on fire with a fresh AI model, the Q*.
Analysts like Joseph Bonner are buzzing about the incredible breakthroughs they’ve made.
Oh, and did I mention there’s a bit of drama at OpenAI?
CEO Sam Altman and the board of directors are in a tug-of-war, but fear not—financial whiz Joseph Bonner says it won’t rain on Microsoft’s parade.
In the world of stock ratings, Argus is waving the “buy” flag for MSFT.
They’re aiming high with a $430 price target.
As of January 2nd, MSFT closed at $370.87.
Ready for the Microsoft rollercoaster?
Buckle up to invest in one of the best AI stocks!
2. Alphabet (NASDAQ: GOOGL)
We’re talking about everything—from ad pricing to content promotion and even those pesky Gmail spam filters.
They’re basically living in an AI wonderland!
Now, let me drop a bombshell on you.
In March 2023, Google rolled out its shiny new Bard AI chatbot.
But that’s not the end of the story.
By September, they went all-in and integrated Bard into every nook and cranny of their tool suite.
Yep, that includes YouTube, Google Drive, and even Google Flights!
It’s like Bard took a magic carpet ride across the entire Alphabet kingdom.
Fast forward to December, and Google is flaunting Gemini.
They’re calling it their most fabulous creation yet—a super-duper, all-powerful model.
It’s like the rockstar of AI!
Hold your applause because there’s more.
According to brainiacs, like Bonner, Google isn’t just a player; it’s a leader in the cool-kid club of emerging technologies.
Picture this: AI, virtual and augmented reality, and quantum computing.
Yep, they’re rocking the tech world.
In the stock rating arena, Argus is shouting “buy” for GOOGL.
They’ve even set the target at a cool $153.
As of January 2nd, GOOGL closed at $138.17.
Ready to ride the Alphabet tech wave with the best AI stocks?
3. Nvidia (NASDAQ: NVDA)
Get ready for some tech fireworks because Nvidia, the high-flying chip wizard, is the powerhouse behind the scenes, fueling the brains of advanced AI applications.
Brace yourself for the fun fact: In 2023, Nvidia didn’t just shine—it skyrocketed to the top spot as the best-performing stock in the entire S&P 500.
And you know what’s lighting up their success?
It’s all about that sweet AI exposure.
Here’s the jaw-dropper: Despite new U.S. export restrictions on high-end chips, Nvidia pulled off a financial magic trick.
Thanks to the soaring demand for their graphics processing units in the AI realm, they managed to triple their revenue year over year in the fiscal third quarter.
It’s like they’re dancing through challenges with a tech swagger!
According to the guru, Kelleher, Nvidia isn’t just riding the AI wave; they’re surfing at the epicenter of the AI technology boom.
Hold your hats because he’s dropping a bombshell—there’s still a galaxy of untapped potential for this red-hot stock.
The hype train isn’t slowing down anytime soon!
In the realm of stock ratings, Argus is shouting from the rooftops with a “buy” for NVDA.
They’re painting the future with a bold $600 price target.
As of January 2nd, NVDA closed at $481.68.
Ready to join the Nvidia tech extravaganza as one of the best AI stocks?
4. Meta Platforms (NASDAQ: META)
Picture this: Meta is cooking up something big in their tech kitchen.
Word on the digital street is they’re crafting a spanking new AI system that aims to match the brilliance of the most advanced OpenAI model.
It’s like they’re raising the bar in the AI arena!
But that’s not all the scoop.
Rumor has it Meta is on a generative AI frenzy, testing over 20 mind-blowing features across their digital playgrounds.
We’re talking upgrades to search, advertising, and even business messaging.
It’s like they’ve unleashed a creative AI storm!
According to the tech whisperer, Bonner, Meta isn’t just hanging out in the generative AI space; they’re leading the charge.
Brace yourself for the exciting part—Bonner sees AI as the key to unlocking new levels of performance optimization.
The future is looking pretty bright in Meta’s digital universe!
In the stock realm, Argus is chanting “buy” for META.
They’re painting the future with a $375 price target.
As of January 2nd, META closed at $346.29.
Ready to dive into the Meta AI revolution with one of the best AI stocks?
5. Tesla (NASDAQ: TSLA)
What’s propelling this comeback?
Well, buckle up because Tesla’s advancements in artificial intelligence (AI) are hinting at a resurgence reminiscent of the glory days in late 2021.
Check this out—Tesla’s share price has already staged a jaw-dropping recovery, soaring by 133% year-to-date.
The company has its sights set on potential expansions in the promising markets of India and Europe.
But the real game-changer?
It’s the highly anticipated Cybertruck launch, expected to be the driving force behind substantial growth through 2024.
Now, here’s the grand vision: Tesla is reaching for the stars with the ultimate goal of achieving fully autonomous driving.
Brace yourself for the excitement because they’re gearing up to roll out a robot taxi service soon.
And that’s not all—meet Optimus, Tesla’s humanoid robot, a creation that Elon Musk envisions could eventually outshine Tesla’s auto operations in terms of value.
However, it’s worth noting that a potential economic slowdown in China might throw a wrench into short-term profitability plans in 2024.
Hold onto your seats, folks—Tesla’s market capitalization is a staggering $801 billion, showcasing its colossal presence in the automotive world.
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6. Amazon.com Inc. (NASDAQ: AMZN)
Hold your breath, because Amazon isn’t just a shopping giant—it’s an AI wizard!
They’ve sprinkled a touch of AI magic in every nook and cranny of their empire.
From targeted ads to marketplace searches and recommendation algorithms, they’ve got it all covered.
Even their Amazon Web Services (AWS) has a full-on AI makeover!
But wait, there’s more!
If you’re diving into the AWS cloud, Amazon’s got your back with a buffet of AI and machine learning goodies.
Think advanced text analytics, automated code reviews, and even chatbots—they’re serving it all up.
Fast forward to September, and Amazon is turning up the heat.
They’ve injected generative AI superpowers into their Alexa personal assistant.
And guess what?
Now Alexa isn’t just informative; she’s got opinions!
It’s like having a chatty tech-savvy friend right at your fingertips.
Here’s a tidbit from analyst Jim Kelleher: Amazon’s AI magic isn’t just for show.
Their cloud deal with Anthropic, a tech company rocking the AI scene, has got folks like Jim excited.
He’s even predicting that AI tech could turbocharge AWS sales growth.
Now, that’s what we call a tech revolution!
In the world of stock ratings, Argus is chanting “buy” for AMZN.
They’re setting the stage with a bold $165 price target. As of January 2nd, AMZN closed at $149.93.
Ready to ride the Amazon AI wave into the future with the best AI stocks?
7. Taiwan Semiconductor Manufacturing Co. Ltd. (NASDAQ: TSM)
Get ready to meet the big player in the semiconductor world—Taiwan Semiconductor Manufacturing!
They’re not just big; they’re the largest pure-play semiconductor foundry on the planet.
Here’s the scoop: Taiwan Semi is the mastermind behind all those fancy AI semiconductors for Nvidia and other heavy hitters in the AI chip-making game.
It’s like they’re the MVPs behind the scenes!
Hold onto your tech hats because, despite a dip in smartphone and laptop chip sales, Taiwan Semiconductor isn’t breaking a sweat.
Well, the booming demand for AI chips is riding to the rescue!
In the third quarter, AI chip demand flexed its muscles, helping Taiwan Semi weather the storm of slumping sales elsewhere.
According to the tech oracle, Kelleher, Taiwan Semi isn’t just surviving; it’s thriving in the AI arena.
While the overall semiconductor market might be doing limbo through a cyclical downturn, Taiwan Semi’s AI-related demand is standing tall.
Kelleher predicts that the company’s growth in AI will be powered by these advanced nodes, and get this—Taiwan Semi estimates that AI processor demand is already chalking up a cool 6% of their total revenue.
In the stock game, Argus is singing the “buy” anthem for TSM.
They’ve set the stage with a $110 price target.
As of January 2nd, TSM closed at $101.53. Ready to ride the Taiwan Semi semiconductor wave into the future with the best AI stocks?
8. Adobe Inc. (NASDAQ: ADBE)
Adobe is not just a software whiz—it’s a powerhouse of creative content tools and applications, serving the realms of marketing and e-commerce.
Imagine this: Adobe’s Firefly generative machine learning model is stealing the spotlight, capturing the imaginations of customers far and wide across platforms like Photoshop and Illustrator.
It’s like they’ve lit a creative spark across their digital playground!
But that’s not where the magic ends.
Adobe has sprinkled its Sensei AI and machine learning wizardry across products like Adobe Analytics, Campaign, and Target.
It’s like they’ve turned their whole lineup into a symphony of smart, data-driven tools.
According to the insight guru, Bonner, Adobe isn’t just resting on its laurels. Oh no, they’re gearing up for more AI adventures.
Bonner predicts they’ll keep pouring resources into new AI products, aiming to conquer even more of the rapidly expanding market.
And here’s the juicy part—Adobe’s revenue growth and those sky-high margins are making it sparkle as a top-notch investment.
In the world of stock ratings, Argus is waving the “buy” flag for ADBE.
They’re painting the future with a bold $675 price target. As of January 2nd, ADBE closed at $580.07.
Ready to ride the Adobe creativity wave into the investment spotlight with the best AI stocks?
9. ASML Holding NV (NASDAQ: ASML)
Let’s step into the semiconductor world, where ASML is the go-to maestro for photolithography systems and other nifty processing gear.
Here’s the plot twist: ASML is the lone ranger in the game, crafting extreme ultraviolet lithography equipment that’s the secret sauce behind those super-advanced AI chips.
It’s like they’re holding the key to the AI kingdom!
Now, for a bit of a downer—ASML spilled the beans that U.S. export controls are throwing a wrench into 10% to 15% of their shipments to China.
But fear not, because the silver lining is that they still expect a strong demand for their goodies in China.
It’s like they’ve got a fan club that won’t quit!
According to the guru, Kelleher, ASML isn’t just a one-trick pony.
Nope, they’re the backbone for big shots like Intel Corp. and Taiwan Semiconductor.
Talk about having your hands in all the cookie jars!
This diversified exposure is like ASML riding the wave of the AI technology boom from every angle.
In the stock realm, Argus is singing the “buy” anthem for ASML.
They’ve set the bar high with an $850 price target.
As of January 2nd, ASML closed at $716.92.
Ready to ride the ASML semiconductor rollercoaster into the future with the best AI stocks?
10. International Business Machines Corp. (NASDAQ: IBM)
Picture this: IBM is not just thinking big; they’re revolutionizing sectors like health care, finance, law, and academia.
The Watson AI arsenal is like a treasure trove, with applications that elevate customer service, automate workflows, and even predict outcomes.
It’s like they’ve unleashed a digital wizard to tackle real-world challenges!
But that’s not all—IBM’s Watson Studio steps into the spotlight, helping enterprise customers craft their very own AI applications.
It’s like a creative studio for the tech-savvy dreamers.
According to the sage, Kelleher, AI is poised to be the main character in IBM’s future storyline.
As customers give their infrastructure a makeover, AI is set to steal the spotlight.
And here’s the kicker—IBM’s approach to AI is like a breath of fresh air.
Their open-source strategy, featuring gems like Watsonx.ai, is a unique path, differentiating them from the closed systems of Alphabet and Microsoft.
In the stock saga, Argus is waving the “buy” flag for IBM.
They’ve painted the future with a $165 price target. As of January 2nd, IBM closed at $161.50.
Ready to jump on the IBM innovation train by using the best AI stocks?
11. Arista Networks Inc. (NASDAQ: ANET)
Arista Networks is the wizard behind cloud networking solutions for internet giants, cloud service providers, and enterprise data centers.
Arista’s magic touch lies in their high-performance solutions and data center switches, delivering the processing power needed to tackle those demanding AI workloads.
It’s like they’re the superheroes of cloud networking!
Hold onto your digital hats because, in the early chapters of 2023, Arista pulled off a grand reveal—they launched a cloud-based, AI-driven network identity service.
It’s like they’ve added a dash of futuristic AI flair to the world of information technology operations and enterprise security.
According to the tech guru, Kelleher, the rise of generative AI models is fueling a turbocharged growth in cloud-based data center networking, especially to support those mammoth language models.
And guess what?
Arista is sitting pretty as the market leader in the realms of enterprise and data center cloud networking.
In the stock saga, Argus is cheering “buy” for ANET.
They’ve set the stage with a $275 price target.
As of January 2nd, ANET closed at $231.56.
Ready to join the Arista Networks tech adventure by putting your money in the best AI stocks?
Discover More: Top 148 AI Startups To Look Upto In This
FAQs (Frequently Asked Questions)
Now, let’s check out the most common questions people often look for when they are searching for the best AI stocks.
Q1: What is the Best AI Penny Stock to Buy?
Here is a list of the best AI penny stocks you can consider in 2024.
- MicroAlgo Inc.
- Applied Optoelectronics Inc.
- Genius Group Ltd.
- SoundHound Ai Inc.
- Aurora Technology Acquisition Corp.
- Getaround Inc.
- Cardio Diagnostics Holdings, Inc.
- FuelCell Energy Inc.
- Palantir Technologies inc.
- Wavedancer Inc.
Q2: What is AI in Stocks?
These high-tech wonders use fancy stuff like machine learning to dive into massive piles of data.
They’re basically the decision-making champs when it comes to making smart moves in the trading world!
Q3: What is the Best AI Stock Screener?
Here is a list of the best AI stock screeners of 2024.
- Stock Rover.
- Trade Ideas.
Q4: Who is the Top AI Company?
Here, in this article, I’ve already talked about the best AI companies. Still here is a brief list of them.
- Microsoft Corp.
- Amazon.com Inc.
- Alphabet Inc.
- Nvidia Corp.
- Adobe Inc.
- Meta Platforms Inc.
- ASML Holding NV.
- Taiwan Semiconductor Manufacturing Co. Ltd.
Q5: What are the Best AI Stocks to Buy Now?
|Cadence Design Systems (CDNS)
|Palo Alto Networks (PANW)
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Zooming out from the tech cosmos, it’s clear these industry juggernauts are more than just players; they’re maestros orchestrating the symphony of our digital future.
From AI-driven cars to cloud networking wizards, each company brings its unique flavor to the mix.
As we wrap up this tech escapade of the best AI stocks, keep your seatbelt fastened—these trailblazers are just getting started, and the thrill of innovation is set to hit warp speed!
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