Posted 1/24/2024, 11:29:00 AM
S&P 500 Enters Bull Market as Datadog, Axcelis Position to Benefit from AI and Chip Demand
- The S&P 500 has entered a new bull market after an 18-month bear market, presenting opportunities for investors
- Datadog offers cloud monitoring and new AI tools to diagnose issues, making it well-positioned as AI adoption grows
- Datadog expects over $2B in 2022 revenue, with AI customers making up a growing percentage of revenue
- Axcelis Technologies manufactures key semiconductor equipment and is seeing strong demand, especially for electric vehicle chips
- Axcelis trades at a P/E ratio of just 18.3 versus 28.5 for the semiconductor sector, making it a potential bargain