Tech Stocks Poised for Growth, But Wait for Downturn to Buy
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Apple is a huge company but growth can fluctuate between iPhone updates. It's a great stock to buy after a downturn when the valuation becomes more reasonable.
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AI and chips powering AI models present a big growth opportunity. AMD could benefit but its growth expectations seem modest compared to its high valuation, making it a stock to reevaluate after a downturn.
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Shopify helps small businesses establish an online presence and its market share is growing. It has significant growth ahead in e-commerce but its valuation jumped 58% in the past month, presenting a chance to get a better entry point after a downturn.
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Advanced Micro Devices' AI chip MI300 could allow it to compete with Nvidia in powering AI computing, driving growth starting in 2024.
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Apple, Shopify, and AMD are quality companies with strong upside potential, but their high valuations today mean investors should wait for a market downturn to get a better price.