AI Stocks - OpenAI o1 Highlights Palantir and AMD Post Q3 2024 Earnings
AI Stocks in Focus After Q3 2024 Earnings Season
As companies prepare to report their Q3 2024 earnings, investor attention is shifting towards AI stocks, particularly Palantir (NYSE: PLTR) and Advanced Micro Devices (NASDAQ: AMD). OpenAI's o1 tool suggests these stocks as strong candidates for investment.
Palantir (NYSE: PLTR)
Palantir continues its growth trajectory with its AI-driven analytics dominating the market. As of now, PLTR has reached highs of $40, fueled by lucrative government contracts and an expected Q3 revenue between $697 million and $701 million.
- Recent deal with U.S. Army worth $99.2 million.
- Market analysts have differing opinions on stock valuation.
Despite concerns regarding its price level, Bank of America maintains a bullish outlook with a target of $50.
Advanced Micro Devices (NASDAQ: AMD)
AMD is highlighted for its AI chip production, particularly through its MI300 series accelerators. Predictions for Q3 revenue stand at $6.7 billion, surpassing analysts' estimates.
- Upcoming AI event is pivotal for bullish sentiment.
- Stock showing promising technical indicators for a rally.
Analysts point to potential reinvigoration of AMD stock driven by strong fundamentals, especially in competitive dynamics against Nvidia.
As the Q3 2024 earnings season unfolds, investors should monitor PLTR and AMD closely for optimal positioning in the AI sector.
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.