AI Stocks: Best Buys for Q3 2024 Earnings – AMD and Palantir
AI Stocks in Focus: Palantir and AMD
As the Q3 2024 earnings season approaches, investing in AI stocks becomes increasingly relevant. OpenAI's o1 tool has pinpointed two strong candidates: Palantir (NYSE: PLTR) and Advanced Micro Devices (NASDAQ: AMD).
Palantir (NYSE: PLTR)
Palantir has experienced a remarkable year, trading at highs of $40, with its AI-driven analytics becoming increasingly crucial. The company’s latest contracts, including a $99.2 million deal with the U.S. Army, signal its strength in AI. As it seeks to broaden its revenue sources beyond government contracts, analysts remain bullish despite valuation concerns.
Advanced Micro Devices (NASDAQ: AMD)
AMD shines in AI chip production, with its new MI300 series targeting market leader Nvidia. The upcoming earnings report is anticipated to bolster its stocks further, with potential bullish indicators directly linked to significant product launches.
- Palantir's expected revenue: $697 million - $701 million
- AMD’s estimated revenue: $6.7 billion
Both companies are well-positioned at this pivotal time, making them intriguing opportunities for those looking to invest in AI stocks.
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.