The S&P 500 index has seen impressive gains of nearly 11% in 2024 and is expected to continue rising due to factors such as cooling inflation and the increased adoption of artificial intelligence technologies by component companies. According to Capital Economics, the S&P 500, currently at 5,354, could reach 6,500 by the end of next year, representing a 23% jump.
Investors are advised to consider buying shares of C3.ai (NYSE: AI) and Arm Holdings (NASDAQ: ARM), as these two growth stocks are poised for significant gains in 2024 and beyond. C3.ai, a provider of enterprise AI software, has shown promising performance, with a 20% year-over-year revenue growth in the previous quarter and a forecasted revenue increase of 50% annually for the next five years. The growing adoption of AI software positions C3.ai for further growth and success.
Arm Holdings, known for its chip architecture, has seen its stock rise by 67% in 2024. With a strong presence in the semiconductor market and a growing backlog of chip design agreements, Arm Holdings is expected to achieve a 22% revenue increase in fiscal 2025. Analysts predict robust growth for Arm Holdings in the coming years, making it a favorable investment opportunity.
In conclusion, both C3.ai and Arm Holdings present attractive growth prospects for investors in 2024 and beyond. Consider investing in these red-hot growth stocks before they experience further upside potential.