Alphabet and Amazon Poised to Ride AI Boom to Further Growth
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The Nasdaq has historically rallied strongly the year after a bear market. With AI growth accelerating, 2024 could see another Nasdaq surge.
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Alphabet is poised to benefit from AI growth across search, advertising, and cloud computing. The stock trades at a historical discount.
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Amazon utilizes AI across ecommerce, cloud computing, and advertising. These segments can drive further growth. The stock is historically cheap.
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Morgan Stanley and Goldman Sachs estimate $6-7 trillion in incremental AI spending by 2030. Ark Invest estimates over $14 trillion just for AI software.
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Alphabet and Amazon offer exposure to AI growth with added upside from established, industry-leading business segments. Their stocks remain attractively valued.