Some stocks have been outperforming the market this year and may continue to do so in the future. The S&P 500 is up 17% this year, but certain growth stocks have exceeded this growth. Here are three such stocks worth considering:
Microsoft: Microsoft is leading the way in artificial intelligence (AI) with investments in OpenAI. It has integrated AI features into its products, such as Copilot, which aids in productivity. Revenue from its Azure cloud unit grew by 31% in the last quarter, with significant growth from AI. Microsoft’s strong position in software and cloud infrastructure, coupled with its AI investments, make it a solid choice for investors.
Apple: Apple has recently entered the AI space with Apple Intelligence, enhancing its ecosystem and potentially driving device upgrades and subscription services. With a strong brand and a growing services segment, Apple’s AI efforts could lead to continued success for the company and its shareholders.
Texas Instruments: While other semiconductor companies focus on high-powered AI chips, Texas Instruments manufactures a wide range of chips for everyday products. Despite recent declines in revenue and net income due to industry cyclicality, Texas Instruments remains a key player in the semiconductor space. The stock’s performance this year reflects investor confidence in its long-term prospects.
Investor Jeff Santoro holds positions in Apple, Microsoft, Nvidia, and Texas Instruments. The Motley Fool also recommends these stocks and has positions in them. Consider these stocks for potential investment opportunities.