Nvidia stock, Arm Holdings (ARM)and Super Micro Computer (SMCI) are excelling at artificial intelligence. They also share a rare combination of highest-possible IBD ratings.
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This Cloud Stock Has Surged 100% In The Last Year. Will AI Innovations Keep The Momentum Going?
They are among just five companies that hold 99 Composite, Earnings Per Share and Relative Strength Ratings.
Nvidia Stock Bounces Back
Nvidia (NVDA) is rebounding after a sharp pullback from record highs. The AI stock remains extended from its buy points of 92.22 and 97.40. The IBD 50 and Leaderboard stock has climbed 155% so far this year. Its four straight quarters of triple-digit profit and sales growth showcase its superiority.
Arm Holdings’ architecture offers energy-efficient applications and advanced chip designs used for generative AI found in smartphones, autos and other industries. Arm is developing its own AI chips to be offered in 2025, Reuters reported.
The IBD 50 stock rebounded along with Nvidia stock and closed back in a buy zone up to 172.20 Wednesday.
AI Stock Super Micro Rock Profits
Super Micro Computer develops and manufactures server and AI storage products. The stock is 32% off its March high and is testing its 50-day moving average. Super Micro’s earnings per share has grown from $5.65 in fiscal 2022 to $11.81 in 2023, with an expected $23.14 in fiscal 2024, which ends this month.
GigaCloud Technology (GCT) provides
learning throughout its product, buyer and seller data life cycle, and serves logistics, freight, warehousing businesses. The AI stock has been volatile since its March highs and is now 12% below its 50-day line.
IBD 50 name Celestica (CLS) earns perfect 99s after four straight years of robust profit growth. The stock is trading tightly and looks to be forming a bullish three-weeks-tight pattern.
Celestica is a contract manufacturer that also provides design and supply chain services to industries ranging from aerospace to health care.
Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.
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