AI Stocks Soar in 2024 as Companies Utilize Technology to Boost Growth
• AI stocks like CrowdStrike (CRWD), Amazon (AMZN), and Synopsys (SNPS) continue to deliver strong revenue and earnings growth in 2024.
• Cybersecurity firm CrowdStrike uses AI to detect threats and save security teams time. Stock up 397% in 5 years.
• Amazon utilizes AI to improve recommendations and cloud services. Cloud industry grows as AI requires more computing power.
• Chipmaker Synopsys benefits from semiconductor demand driven by AI. Achieved 27% profit margin and 65% earnings growth.
• AI momentum from 2023 carries into 2024. Companies incorporate AI to increase efficiency and revenue.