Rosenblatt is laying out its top artificial intelligence pick heading into the second half of 2024. AI tailwinds stretched into the new year after lifting the broader market through 2023. Some key winners continued to build on their rallies, with Nvidia and Super Micro Computer up 154% and 212%, respectively. Here are some of the firm’s top pick into the second half of the year, as AI shows no signs of a slowdown: Rosenblatt named Advanced Micro Devices among its top picks. The firm’s $250 price target implies about 57% upside for shares from Thursday’s close. Analyst Hans Mosesmann cited a strong central processing units pipeline and potential accelerator share gains among his reasons for buying the stock. “We do not need to make the case that AMD is better than Nvidia (the green team is clearly on another plane of AI enlightenment); we need to make the case that AMD can capture a modest mid-teens share,” he wrote. Within the semiconductor space, Mosesmann also named Micron Technology among the firm’s top picks as the world enter one of the most significant memory cycles spurred by AI. MU YTD mountain Micron shares this year Shares of Micron have rallied 58% this year, but slumped 7% on Thursday after the memory chipmaker shared in-line guidance . Many on Wall Street had hoped for a stronger outlook as AI drives memory demand. Analyst Barton Crockett highlighted Apple as a stock to follow in the second half. Earlier this month the company unveiled its long-awaited AI vision . Crockett views the company’s strong privacy capabilities as a significant feature consumer are seeking out in AI. “Apple’s approach also appears to immunize it from cost pressures at hyperscalers, while enabling Apple to benefit from their investments, which look to approach $40 billion incremental in 2024,” he wrote. “Apple is using its own silicon for inferencing, is deploying targeted models for local AI, and connecting to other parties for larger tasks.” He expects the new iPhone with AI capabilities to potentially drive a significant upgrade cycle and mid-teens growth into the 2026 fiscal year. The firm also named CrowdStrike , Five9 and Autodesk among its picks for the second half.
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