Nvidia and Google Named Top AI Stocks to Buy for 2024 Growth Potential
• Nvidia and Alphabet (Google) singled out as best "Magnificent Seven" AI stocks for 2024 due to growth potential.
• Nvidia has seen incredible gains last year (up 238%) due to demand for its GPUs for AI services. Momentum expected to continue.
• Alphabet has highly lucrative ad business that continues to see digitization tailwinds. Trades at attractive valuation (P/E 17.6).
• Both companies have advantages in AI capabilities and opportunities to benefit from AI growth.
• Nvidia expanding offerings with AI software/services subscriptions; Alphabet ads business likely to keep growing profits.