Six Of Seven AI Stock Categories Increased This Week
Photo by Steve Johnson on Unsplash
An Introduction
All but one of the 7 artificial intelligence stock categories that I analyze weekly (see below) increased in value this week but two categories are still down MTD suggesting that the surge in this sector is stalling.
7 AI Categories Compared
Below is how each category performed last week in comparison to each other, to help you make prudent investment decisions going forward. The categories are presented with data:
- for this week, in descending order,
- and MTD to provide a short-term trend in each category
- along with a description of what makes up each category,
- the stocks included in each category
- and commentary on those stocks that made significant moves last week, where available.
- Custom Design AI Chip Stocks: up 7.6% this week; up 4.4% MTD
- Description: The stock prices of electronic design automation (EDA) software companies creating custom designed chips is set to take off given a projected 11% CAGR in the category between now and 2028. This portfolio tracks the stock price changes of 3 companies in this category.
- 3 Constituents: CDNS (+8.1%); SNPS which is acquiring ANSS (+8.0%) and ANSS (+6.5%)
- Articles:
- Semiconductor (Chip) Stocks: up 5.2% this week; up 4.5% MTD
- Description: The price of AI chip stocks surged by 64% in 2023 and many analysts think there is an excellent chance that the boom will continue in 2024 and this portfolio tracks the stock performances of the major players in this category.
- 15 Constituents: MU (+18.2%), AVGO (+9.6%), LRCX (+7.5%), NVDA (+7.3%), AMAT (+5.8%), ATEYY, ASML, ENTG, KLAC, MKSI, MPWR, MRVL, QCOM, TSM. and AMD (-6.0%)
- Articles:
- Cybersecurity Software Stocks: up 2.0% this week; down 4.4% MTD
- Description: Given the anticipated 14% increase in spending on cyber security in 2024, this portfolio tracks the performance of the largest cyber security software stocks expected to realize sizable returns again in 2024.
- 10 Constituents: TENB (+5.3%), CRWD, (+3.7%), CYBR, (+3.5%), S (+3.1%), CHKP, PANW, QLYS, ZS, FTNT, and VRNS (-1.9%)
- Articles:
- AI-enabled Personal Computer Stocks: up 1.9% this week; up 8.5% MTD
- Description: A computing revolution is beginning as a result of the introduction of neural processing units in the latest chip designs which will result in a coming decade of growth in PC upgrades and innovation. This portfolio tracks the stock performances of the companies that have introduced, or plan to introduce, AI-enabled PCs in 2024.
- 4 Constituents: DELL (+4.2%), MSI, LNVGY and HPQ, (-1.2%)
- AI-Powered Drug Discovery Stocks: up 1.8% this week; up 0.4% MTD
- Description: AI-powered drug discovery holds massive potential to increase the accessibility of drugs and to treat presently incurable conditions and this portfolio highlights the most prominent clinical-stage biopharma tech companies using AI to power their research and development.
- 8 Constituents: LTRN (+22.4%), BTAI (+4.9%), SDGR, ABCL, ABSI, RLAY, RXRX (-6.5%) and EXAI (-8.2%)
- Articles:
- Quantum Computing Stocks: up 0.7% this week; up 1.7% MTD
- Description: Quantum computing is still years away but it will change the world when it arrives and, as such, it is important to keep abreast of the major companies involved in its research and development and this portfolio does just that.
- 9 Constituents: MU (+18.2%), BIDU, HON, IBM, INTC, IONQ, AMD (-6.0%), QBTS (-6.7%) and RGTI, ( -17.3%)
- Articles:
- Cloud Computing Stocks: down 1.2% this week; down 4.6% MTD
- Description: The cloud computing market is forecast to expand at a 17% CAGR between 2022 and 2027 which should bode well for the stock performances of the cloud computing companies that this portfolio tracks.
- 8 Constituents: ANET (+10.3%), PSTG (+4.5%), DDOG (+2.2%), DBX (+2.2%), DLR, VRSN, BOX (-3.0%), and EQIX (-5.8%)
- Articles:
The AIQ Global X Artificial Intelligence & Technology ETF (AIQ) of 91 constituents, which best reflects the AI sector as a whole, was up 2.6% last week and is up 2.1% MTD.
More By This Author:
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Disclosure: None
This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed. ...
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