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According to Evercore ISI, these stocks are essential for an AI portfolio



The artificial intelligence revolution is in full swing, and a group of stocks identified by Evercore ISI are leading the charge. These companies are considered worth buying and holding for the long term, as they are set to outperform in the coming years. Nvidia, a chip giant, was highlighted as a “generational opportunity” by Evercore senior managing director Julian Emanuel. The company’s stock has reached a $3 trillion valuation, and its earnings estimates have been revised upwards by more than 20% this year. Additionally, Nvidia recently announced its latest suite of AI chips, known as “Rubin,” which has further bolstered investor confidence in the stock.

Meta Platforms, the parent company of social media giant Facebook, also made Evercore’s list of AI revolutionaries. Despite facing pressure after issuing a lower-than-expected revenue forecast, Meta has seen its shares climb more than 40% in 2024. The company is doubling down on AI, with CEO Mark Zuckerberg assuring investors that their new AI services will likely be successfully scaled and monetized in the future. Meta’s increased capital expenditures, ranging between $35 billion and $40 billion, reflect their commitment to investing in AI technologies.

Another company on Evercore’s radar is Google parent company Alphabet, which has notched 169 AI mentions last year. Shares of Alphabet have climbed more than 25% in 2024, and the company recently posted beats on the top and bottom lines in the first quarter. Alphabet’s suite of AI products, including Gemini and Vertex AI, target enterprise companies and position the company well for future AI innovations. CEO Sundar Pichai expressed optimism about the company’s momentum in AI research and infrastructure, emphasizing their leadership in the field.

Evercore’s list of AI revolutionaries also includes companies like Microsoft and Salesforce, which have demonstrated strong growth and are positioned to benefit from the broader trend of AI adoption. Microsoft’s CEO Satya Nadella has highlighted the company’s focus on providing AI capabilities to businesses across a wide range of industries, while Salesforce has made significant investments in AI-powered solutions to enhance customer experiences and drive business growth. These companies are considered to have competitive advantages in the AI space, making them attractive long-term investment opportunities.

Overall, the AI revolution is shaping the future of technology and business, with companies at the forefront poised to reap the benefits of this transformative trend. Investors looking to capitalize on the AI boom may consider adding these stocks to their portfolios for potential long-term gains. With advancements in AI technology continuing to drive innovation and growth, these companies are well-positioned to outperform in the years to come.

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