Wedbush spotlights DELL, NVDA, MSFT, and others as rate cuts should support the AI trend
Sep. 17, 2024 10:06 AM ET
By: Jason Capul, SA News Editor
 AlexSecret
Wedbush analysts spotlighted that information technology stocks that are tied to artificial intelligence (AI) have a chance to move higher with the Federal Reserve widely expected to step in and start cutting interest rates this week.
"In a nutshell we believe the stage is set for tech stocks to move higher into year-end and 2025 in our opinion as the Fed and Powell kick off its rate cutting cycle this week, macro soft landing remains the path, and tech spending on AI remains a generational spending cycle just starting to hit the shores of the tech sector," said Wedbush analysts, led by Daniel Ives.
For reference, the below list was ranked according to Seeking Alpha’s Quant Ratings, a system that grades stocks based on quantitative measures, such as profitability, momentum and valuation. Quant Ratings are given on a scale of 1-5.
Quant Grades for the 10 AI Stocks Wedbush Highlighted
No. 10: AMD ( AMD): Quant rating 3.15.
No. 9: Microsoft (NASDAQ: MSFT): Quant rating 3.44.
No. 8: ServiceNow ( NOW): Quant rating 3.45.
No. 7: IBM ( IBM): Quant rating 3.46.
No. 6: Oracle ( ORCL): Quant rating 3.46.
No. 5: Salesforce ( CRM): Quant rating 3.47.
No. 4: Apple ( AAPL): Quant rating 3.48.
No. 3: Palantir ( PLTR): Quant rating 3.49.
No. 2: Nvidia (NASDAQ: NVDA): Quant rating 3.49.
No. 1: Dell (NYSE: DELL): Quant rating 4.65.
Year-to-date price action: AMD +3.2%, MSFT +14.7%, NOW +26.3%, IBM +32.7%, ORCL +61.5%, CRM -2.4%, AAPL +12.3%, PLTR +111.4%, NVDA +140.5%, and DELL +50.8%.
For investors that are looking to further examine and understand the artificial intelligence trend, they may look towards the below group of exchange traded funds for additional information:
- KraneShares Artificial Intelligence and Technology ETF ( AGIX)
- GX Artificial Intelligence & Tech ETF ( AIQ)
- GX Robotics & Artificial Intelligence ETF ( BOTZ)
- ALPS Disruptive Technologies ETF ( DTEC)
- First Trust NASDAQ Artificial Intelligence and Robotics ETF ( ROBT)
- Robo Global Artificial Intelligence ETF ( THNQ)
- Roundhill Generative AI & Technology ETF ( CHAT)
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