AI Hardware Stocks Face Growth Slowdown and Pullback Risk After Massive Rallies
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AI hardware stocks like Nvidia, AMD, and Arista Networks have had huge rallies over the past 1-2 years, but growth is slowing and corrections may wipe out 2024 gains.
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Nvidia has strong AI growth ahead, but the stock chart shows a potential top forming after a massive multi-year rally. Target of $1,130-$1,212 before a correction.
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Arista Networks faces a growth slowdown in 2024 before reaccelerating in 2025. Stock chart shows upside to $350 before a 28% pullback.
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AMD will see booming AI revenue growth in 2024 but slower overall company growth. Stock chart broke out of bullish channel, signaling potential top.
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After huge returns in recent years, 2024 may not be another outsized "AI year" for investors. Time to trim positions and lower risk amid peak optimism.