The Nasdaq Is Approaching All-Time Highs. Is It Too Late to Buy These Artificial Intelligence (AI) Growth Stocks?
The Nasdaq Composite index has surged nearly 14% in April, driven by hopes of a resolution in the Iran conflict and investors buying back into AI growth stocks. Two AI stocks, Sandisk and Micron Technology, remain good values despite recent gains.
The Nasdaq Composite index has risen nearly 14% in April, wiping out year-to-date losses. The index hit an all-time high on April 22, rising to over $24,545. Investors are buying back into AI growth stocks, driving the surge. Sandisk and Micron Technology are two AI stocks that remain good values. Sandisk has risen 304% year to date and 3,142% over the past 12 months, driven by its NAND flash drives and solid-state drives for AI computing and data centers. The company's revenue surged 31% sequentially in the most recent quarter, with net income rising 617%. Micron Technology is also benefiting from the memory supercycle, with revenue driven by its dynamic random access memory (DRAM) and high bandwidth memory (HBM) storage for data centers.
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