AppLovin and Nvidia: Leading AI Growth Stocks of 2024
Wednesday, 10 April 2024, 07:30
AppLovin: Artificial Intelligence Performance
AppLovin's stock surge by over 375% since last year proves its AI-driven strategies are paying off. With the introduction of AXON 2 AI advertising technology, the company has seen exceptional revenue and EBITDA growth, positioning itself as a key player in adtech.
Key Points:
- Remarkable Growth: Q4 revenue soared by 36% year over year
- Real-time Bidding Advantage: AppLovin benefits from the shift to real-time bidding in mobile auctions
- Attractive Valuation: The stock trades at a forward P/E of under 17x
Nvidia: AI-Powered Growth
Nvidia's stock surge of 225% in the past year is attributed to its GPUs powering generative AI applications. The company's revenue saw a significant boost, particularly in data center revenue, showcasing the industry's reliance on Nvidia's technologies.
Key Points:
- Data Center Dominance: Data center revenue surged by 409% last quarter
- Networking Success: Nvidia's networking business saw extraordinary growth, positioning the company for further success in AI-optimized networking
- Valuation Analysis: Despite the stock's surge, Nvidia's forward P/E ratio of about 35x indicates room for growth
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.