The recent boom in artificial intelligence (AI) technology and the Federal Reserve’s decision to cut interest rates have boosted utility stocks. This has led to increased interest in utility companies as strong growth picks for investors.
AI technology has been rapidly advancing and is being increasingly integrated into various industries, including utilities. This has led to improved efficiency and cost savings for utility companies, making them more attractive to investors.
Additionally, the Federal Reserve’s decision to cut interest rates has made utility stocks even more appealing. This is because utility stocks are known for their stability and reliable dividends, making them a safe haven for investors during times of economic uncertainty.
Overall, utility stocks are currently seen as some of the best growth picks in the market. With the combination of AI technology advancements and the recent rate cuts, utility companies are expected to continue to perform well and provide strong returns for investors.