History Predicts Nasdaq Growth This Year: Top AI Growth Stocks to Buy Before It Happens

Even though 2024 is just a few months old, the Nasdaq Composite index has done well. AI, chip, and cloud computing stocks, which dominate the index, are rising as investors favor growth and innovation. This has driven the index to a record high, confirming bull territory.  

History suggests the Nasdaq's winning streak may continue. The Nasdaq has risen 64% in the first two years of six stock market gains since 1990. The Nasdaq rose 43% last year and 8% last year, so if it follows historical tendencies, it could rise this year. My top AI growth stocks to buy before it happens...  

Amazon Amazon (NASDAQ: AMZN) shares have risen 20% this year, and this top stock may be just getting started. Because Amazon is a great AI stock: AI is being used to improve e-commerce and sell AI goods and services to cloud computing consumers through Amazon Web Services (AWS). It gains two benefits from AI.  

AI helps Amazon optimize fulfillment center operations and choose the fastest delivery routes. This is crucial because it could lower the company's service cost.  

AWS prioritizes meeting all AI demands by offering chips for training and inference programs and a fully managed service to customize top large language models (LLMs). As the world's largest cloud services provider, AWS has a huge audience ready to begin AI projects.  

In improving e-commerce operations and cutting expenses, and increasing AWS income, AI might enhance Amazon's earnings growth over time. Amazon trades for 43 times projected earnings forecasts, which is a good price for a growth firm with strong profitability and an AI strategy.  

Intel (NASDAQ: INTC) may be catching up in the AI race after a period of difficulties. Late last year, the chipmaker announced a portfolio of AI technologies to boost growth. These high-power computers can perform numerous AI tasks, including the Intel Core Ultra mobile processor family, which launched the AI personal computer era.  

Intel also introduced its Gaudi 3 AI accelerator and latest Intel Xeon processor series with AI acceleration. It's fine if these advances don't threaten Nvidia's chip market dominance. With the AI market expected to reach $1 trillion by the end of the decade, multiple companies can profit. New and upcoming breakthroughs could make Intel one of them.  

To become the world's second-largest foundry by 2030, Intel may expose its manufacturing network to outsiders, which might boost growth. A huge bet might pay off big time. Four customers have committed to Intel's 18A technology, while five have advanced packaging deals.  

Intel shares are cheap at 29 times forward earnings forecasts, given its AI and foundry potential and analyst predictions of double-digit growth over the next five years. Intel could rebound, making today a good moment to buy this computer behemoth.  

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