Zacks Thematic Screens allow you to dive into 30 dynamic investment themes shaping the future. Whether you’re interested in cutting-edge technology, renewable energy or healthcare innovations, our themes will help you invest in ideas that matter to you.
For those interested in viewing the thematic lists, click here >>> Thematic Screens – Zacks Investment Research.
Let’s take a closer look at the Artificial Intelligence theme and analyze some of the stocks that hit the screen, such as Broadcom AVGO and Palantir PLTR.
Artificial intelligence
Artificial intelligence (AI) refers to the technology that enables computers and machines to simulate human intelligence and problem-solving skills to perform the cognitive functions commonly associated with the human mind.
In general, AI systems work by ingesting large amounts of data with fast, iterative processing and intelligent algorithms. It then analyzes the data using neural networks for correlations and patterns and lets the software automatically learn from these patterns to make predictions.
This screen shows several companies involved in AI, ranging from makers of software and hardware that power AI to those who adopt and use this technology through automation, diagnostics, cognitive tasks, and more.
Click here for a direct link to Zacks’ Artificial Intelligence theme screen.
Palantir is enjoying business momentum
Palantir builds software that allows organizations to effectively integrate their data, decisions and activities. The company maintains an optimistic outlook for the current financial year, with analysts having significantly revised up their profit expectations in recent months.
Image source: Zacks Investment Research
The latest quarterly release provided positivity following the earnings results, with the company beating both profit and revenue expectations while boosting sales guidance for the year. Revenue rose 27% year over year, while adjusted earnings per share rose 200%.
The company’s platform remains highly attractive, reflected in 41% year-over-year customer growth. Impressively, PLTR closed more than 27 deals worth $10 million over the period, further reflecting growing demand.
Below is a chart illustrating the company’s quarterly revenue.
Image source: Zacks Investment Research
Broadcom reports record AI revenues
Broadcom is developing a broad portfolio of technologies to extend its leadership in enabling next-generation AI infrastructure. This includes foundational technologies and advanced packaging capabilities aimed at building custom AI accelerators with the highest performance and lowest power.
The stock currently sports a favorable Zacks Rank #2 (Buy), with its earnings outlook shifting bullishly across the board in recent months.
Image source: Zacks Investment Research
Like PLTR, recent quarterly results provided fireworks after earnings, with record AI product revenue of $3.1 billion greatly satisfying investors. The quarter’s results were driven by robust demand for its AI solutions, which allowed the company to increase revenue for the year and adjust EBITDA guidance.
Analysts have accordingly raised their sales expectations for this year, predicting that AVGO will achieve 43% year-on-year revenue growth in FY24. Below is a chart illustrating the company’s quarterly revenue.
Image source: Zacks Investment Research
In short
Zacks Thematic Screens allow you to dive into 30 dynamic investment themes shaping the future. Whether you’re interested in cutting-edge technology, renewable energy or healthcare innovations, our themes will help you invest in ideas that matter to you.
Running the Zacks Artificial Intelligence Thematic screen returned both stocks above – Palantir PLTR and Broadcom AVGO.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
