3 Genius Artificial Intelligence (AI) Stocks to Buy Hand Over Fist Before Year-End
While AI and memory stocks get hammered on bubble fears, these three companies just posted sold-out demand, record revenue, and raised guidance.
Three artificial intelligence stocks are showing potential for investors looking to buy before the year ends. Despite recent market drops driven by fear, these companies' underlying businesses appear strong and growing. Micron Technology (MU) produces memory chips for AI processors and has seen a 20-40% price drop. However, Micron's high-bandwidth memory is in high demand with $100 billion in contracts and deposits, leading the company to turn away business.
Astera Labs (ALAB) makes connectivity chips for AI data centers, with revenue growing 104.5% year-over-year. The company unveiled a new architecture to support up to 160 accelerators, showing expansion and growth potential. Vertiv Holdings (VRT) sells power and cooling systems for AI data centers, having beaten estimates in Q3 and raised guidance for full-year sales.
The stock has fallen due to sector-wide anxiety, but the company's guidance and expanded product offerings indicate a robust business. All three companies showed record revenue, raised guidance, and sold-out production, while the stock prices fell due to broader market fears.
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