Posted 3/16/2024, 9:56:00 AM
AI Boom: Nvidia and Alphabet Emerging as Attractive 'Forever Stocks' to Buy for Long-Term Growth
- The AI market is projected to grow at a 37% compound annual rate through 2030 to reach almost $2 trillion
- The "Magnificent Seven" tech stocks - Apple, Alphabet, Amazon, Meta, Microsoft, Nvidia, and Tesla - are great investments in AI
- Nvidia has 90% market share in AI graphics processing units (GPUs) and saw triple-digit revenue and cash flow growth last year
- Despite recent stumbles, Alphabet remains a top player in AI with the resources to keep investing, plus its stock trades at a relative bargain
- Both Nvidia and Alphabet are attractive "Magnificent Seven" stocks to buy and hold forever for their leadership in AI