Buy these ‘AI revolutionaries’ trading at a discount, Evercore ISI says

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Buy these ‘AI revolutionaries’ trading at a discount, Evercore ISI says

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and Meta , here are five other stocks that made the cut. These are expected to be core holdings for the long term, but will often have volatile short terms, Emanuel pointed out. “EVR ISI Strategy recommends pairing these high-flying AI holdings with a QQQ (Many of the names are a part of the Nasdaq 100 Index) December expiration Put Spread Collar as the correction continues,” he said. The QQQ refers to the Invesco QQQ ETF , which tracks the Nasdaq 100 . A put spread collar is a strategy that aims to limit losses but also caps gains using a combination of call and put options. Investors should also be patient in buying names on the list, which have experienced maximum momentum, up to two times the S & P 500 ‘s 21.7% gain since the October 2023 low, Emanuel added. One of the names on the list is Uber Technologies , which mentioned AI 17 times last year. The ride-sharing company’s platform that matches drivers with passengers or couriers with groceries is driven by AI. In February, Uber’s fourth-quarter financial results were better than expected, with revenue up 15% from the last quarter. CEO Dara Khosrowshahi said 2023 was a year of sustainable, profitable growth. “People are going out to dinner, they’re going out to concerts, sports events, etc. And when people go out and they spend money, or when they want anything delivered to their home, Uber benefits,” he said in an interview with ” Squawk Box ” at the time. Shares, which are up nearly 15% year to date, have gained more than 60% from the S & P’s low in October, according to Emanuel. He also considers Goldman Sachs an “AI revolutionary.” The financial firm mentioned AI 27 times last year. Just last week, CEO David Solomon said on the company’s earnings conference call that the significant demand for AI-related infrastructure, and as a result financing, will be a tailwind for Goldman’s business. “We are focused on enhancing productivity, particularly for our developers and increasing operating efficiency, while maintaining a high bar for quality, security and controls,” Solomon said. Last week, Goldman’s first-quarter profit and revenue beat analysts’ expectations thanks to a surge in trading and investment banking revenue. The stock is up 39% since the S & P’s October low, according to Emanuel. It has added about 10% so far this year. Lastly, Booking Holdings mentioned AI 34 times last year. The online travel company uses AI within customer service , like its AI trip planner and Priceline’s generative AI travel assistant, Penny, CEO Glenn Fogel said on the company’s fourth-quarter earnings call in February. Booking beat estimates on both earnings and revenue. The company is also using AI to increase productivity. “We have early indications that using generative AI enhances the productivity of our software developers and are encouraged by the results so far,” Fogel said. “We look forward to experimenting with these and other ways GenAI tools might make our business more efficient in the future.” Shares have gained 24% since the S & P’s October low, per Emanuel. They are down less than 1% so far this year.

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Uber Technologies Inc,Generative AI,Artificial intelligence,Technology,Breaking News: Technology,NASDAQ 100 Index,S&P 500 Index,Booking Holdings Inc,Goldman Sachs Group Inc,Meta Platforms Inc,

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.com Inc,Alphabet Inc,NVIDIA Corp,Stock markets,Investment strategy,PowerShares QQQ Trust,business news
#Buy #revolutionaries #trading #discount #Evercore #ISI

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