We recently published a list of Top 10 AI Stocks to Watch Right Now. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other top AI stocks to watch right now.
Tom Hancock, GMO U.S. quality ETF portfolio manager, said in a latest program on CNBC that the NASDAQ has become “risky” bet amid a lot of volatility.
“It’s become not really an index; it’s become a single bet. So it it’s a very risky thing to invest in. It’s not what I think you would want from a sort of diversified investor. It’s probably going to give you more volatile returns next year, and I’d a little bit worry that the AI rally has extended itself. So uh those may be uncomfortably volatile returns.”
Hancock said investors should also pay attention to some of the “old economy” stocks. He thinks AI stocks have become a “hype trade” and any “hiccup” in the economy could result in these stocks crashing. He also urged investors to look for stocks outside the US.
Hancock believes AI gains are now set to broaden out to smaller companies that have not received a lot of attention so far.
READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In
For this article we picked 10 AI stocks currently trending based on latest news. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Number of Hedge Fund Investors: 193
Nancy Tengler from Laffer Tengler Investments said while talking to Schwab Network in a latest program that the latest pullback in NVIDIA Corporation (NASDAQ:NVDA) is a good chance to pile into the stock as she believes it will rally again:
“If you look at Nvidia’s backlog, uh if you just kind of pay attention to the anecdote like the one that Larry Ellison uh shared where he and Elon were at dinner with with Jen and just kept saying, please take more of our money, um I think if you pay attention to who’s spending and how much they’re spending that the stock will rally again.”
The analyst said she is adding to her NVIDIA Corp (NASDAQ:NVDA) position on the latest pullback:
“There’s plenty of room I think you know recalibration is never a bad thing and it gives some you know those who aren’t in the stock a chance to get in and those of us who own it we just actually added to our position uh I think it was last week or the week before.”
