As the artificial intelligence (AI) boom continues to reshape industries, investors are eyeing top-rated stocks poised to benefit from this transformative trend. Nvidia (NVDA), a key player in the AI space, headlines a list of 39 top-rated stocks to buy and watch, signaling the sustained momentum in the AI sector.
Joining Nvidia on this prestigious list are fellow AI leaders such as Salesforce.com (CRM), Arista Networks (ANET), Super Micro Computer (SMCI), and CrowdStrike (CRWD), all of which have been hitting record highs amid the AI surge.
Chip sector giants Broadcom (AVGO) and Rambus (RMBS) have also earned spots on this list, underscoring the significant role of semiconductor companies in powering AI innovations.
The promise and perils of AI have propelled cybersecurity stocks into the spotlight, with Palo Alto Networks (PANW), Cloudflare (NET), Zscaler (ZS), and Gen Digital (GEN) securing positions alongside CrowdStrike. Despite some stocks having already surpassed their buy zones, the bullish outlook for AI continues to drive their performance.
Additionally, the strength of the AI boom is evident as SMCI stock soars on the back of impressive earnings and strong sales guidance, further bolstering confidence in the sector.
A diverse range of tech sector names, including DocuSign (DOCU), Dynatrace (DT), Globant (GLOB), and GigaCloud Technology (GCT), an IPO from 2022, are also highlighted in this list, emphasizing the broad impact of AI across various industries.
In the biotech sector, Regeneron Pharmaceuticals (REGN), Neurocrine Biosciences (NBIX), and Vertex Pharmaceuticals (VRTX) are identified as key players to watch, with REGN stock recently hitting a record high and NBIX stock trading near its all-time high.
All the companies featured on this stock screen are drawn from the top 20 industry groups, reflecting the importance of industry rankings in identifying winning stocks. With each company outpacing at least 95% of all stocks in key stock-picking factors, investors can utilize tools like IBD Stock Checkup to track group rankings and ratings for these stocks as they navigate the dynamic landscape of 2024.
