"2024 AI Stock Forecast: Top Picks and Potential Crashes Beyond the 'Magnificent Seven'"

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Source: The Motley Fool
"2024 AI Stock Forecast: Top Picks and Potential Crashes Beyond the 'Magnificent Seven'"
Photo: The Motley Fool
TL;DR Summary

The article suggests investing in three AI stocks beyond the well-known "Magnificent Seven": Taiwan Semiconductor Manufacturing (TSMC), Super Micro Computer (SMCI), and Broadcom (AVGO). TSMC is highlighted for its dominance in chip manufacturing, with a growing market share and plans to mitigate geopolitical risks by expanding production outside Taiwan. Super Micro Computer is recognized for its innovative server designs tailored for AI applications, with a significant portion of its revenue coming from AI server systems. Broadcom is noted for its acquisition of VMware, which could significantly boost earnings and play a crucial role in AI as a software platform linking various cloud services. These stocks are presented as valuable additions to an AI-focused investment portfolio, trading at reasonable multiples and offering growth potential in the AI sector.

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