Nvidia and Tesla: Long-Term Growth Stocks Poised to Benefit from AI and EVs
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Nvidia and Tesla are stock split stocks that could benefit from a potential bull market in 2024. Nvidia has split its stock 5 times since 2000 to remain accessible to retail investors.
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Nvidia is poised to benefit from the rapid growth of generative AI, which could expand at a 42% CAGR to $1.3 trillion by 2032. Its early lead has given it a competitive advantage.
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Tesla aims to accelerate its mass-market strategy with a planned $25,000 Model 2 unveiling this year. Lower-cost options could help offset lower margins.
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While facing near-term challenges, Tesla has historically proven naysayers wrong by growing into its valuations over the long term.
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Nvidia may be the better buy over Tesla now due to its faster bottom-line growth and lower valuation, currently under 25x forward earnings.