These 7 AI stocks will benefit from strong demand – Bank of America
DELL
-3.12%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
NTAP
+0.64%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
WDC
-0.78%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
STX
-2.68%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
SMCI
+2.16%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
HPE
-0.86%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
PSTG
-3.40%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
Dive into the world of savvy investing with InvestingPro! We’re giving you this eye-opening article for FREE, showcasing pro-level insights in real-time. Seize the opportunity and upgrade today with promo code HOT2024 for an additional 10% off already discounted rates (UP TO 50% OFF!). Time is ticking – upgrade now with just a click.
Analysts at Bank of America highlighted seven artificial intelligence (AI) stocks they see benefitting from strong demand.
The investment bank said Super Micro Computer (NASDAQ:SMCI), Dell Technologies (NYSE:DELL), and Hewlett Packard Enterprise (NYSE:HPE) will directly benefit from higher AI server demand, while NetApp (NASDAQ:NTAP), Pure Storage, Inc. (NYSE:PSTG), Western Digital (NASDAQ:WDC), and Seagate Technology (STX) stand to benefit from increased storage demand driven by increased AI workloads.
AI is expected to drive most of the future growth in server revenues over the next four years, with analysts modeling the overall server market growing revenues in double-digits (about 23% CAGR) between 2023 and 2027. Server units are seen growing at high-single digits (8.6% CAGR) in the same timeframe.
“We expect AI server units to grow at 58% CAGR 2023-27, while non-AI server units grow at mid-single digit CAGR (6.3%),” said analysts. “This leads to total server market unit growth at 8.6% CAGR 2023-27.”
Within AI servers, the firm expects both Training servers and Inference servers to grow revenues by double digits, with Training server revenues growing at about 36% CAGR between 2023 and 2027, while inference server revenues grow faster at about 66% CAGR.
In the fourth quarter of 2023, Dell, Super Micro, HPE, and Lenovo were the top server vendors by revenue. Meanwhile, in terms of market share by revenues, Dell had an 11.5% share, Super Micro 8.1%, HPE 6.9%, and Lenovo and IBM each had 4%. When it comes to unit share, Dell had 11.7%, HPE 6.7%, Super Micro 6%, Lenovo 4.8%, and Cisco 1.2%.
Overall, Bank of America expects AI workloads to drive server market growth above the historical rate.
Upgrade your investing today and save big with promo code HOT2024
Source: Investing.com