Rosenblatt has released its top AI stocks for the second half of 2024. AI tailwinds have continued into the new year after boosting the overall market throughout 2023. Some major stocks continue to rise, with Nvidia and Super Micro Computer up 154% and 212%, respectively. With AI showing no signs of slowing down, here are the firm's top stocks for the second half of the year: Rosenblatt named Advanced Micro Devices as one of its top picks. The company's $250 price target suggests an upside of about 57% from Thursday's closing price. Analyst Hans Mosesmann cited a strong central processing unit pipeline and potential upside in accelerator stocks as reasons for buying the stock. “There is no need to argue that AMD is better than Nvidia (the green team is clearly on another plane of AI enlightenment), but rather to argue that AMD can capture a modest share in the mid-teens,” he wrote in a note. In the semiconductor space, Mosesman named Micron Technology one of the company's top picks as the world enters one of the most significant AI-fueled memory cycles. MU YTD Micron Stock's Mountain of the Year Micron shares have risen 58% this year but slumped 7% on Thursday after the memory chipmaker shared guidance that was in line with expectations. Many on Wall Street were hoping for a stronger outlook as AI drives memory demand. Analyst Barton Crockett highlighted Apple as a stock to watch in the second half of the year. Earlier this month, the company released its long-awaited AI Vision. Crockett believes the company's strong privacy features are a key feature consumers are looking for in AI. “Apple's approach seems to insulate Apple from the cost pressures of the hyperscalers and allow Apple to benefit from investments expected to approach $40 billion in 2024,” he wrote. “Apple is using its own silicon for inference, deploying targeted models for local AI and connecting with others for bigger tasks.” He expects new iPhones with AI capabilities could drive a significant upgrade cycle and mid-teens growth through fiscal 2026. The firm also named CrowdStrike, Five9 and Autodesk as contenders for the second half of the year.
