Possibly the two best AI stocks for the second half of 2024 – London Business News | Londonlovesbusiness.com

Since Nvidia exploded in the stock market, AI stocks have been in huge demand.

The AI industry is one of the world’s fastest-growing and most profitable industries in 2024.

With the second half of the year underway, investors can position themselves for massive gains by investing in highly promising AI stocks.

• This year, the AI industry has been one of the most profitable industries in the world, causing high demand for AI stocks.
• Micron Technology specializes in producing computer memory and computer data storage. Its products are integral to the growth of the AI industry.
• Crowdstrike is a cybersecurity company. Its advanced cloud platform uses AI to secure endpoints, cloud workloads, identities and data from breaches.

With the demand for AI stocks at an all-time high, investors are caught in a race to find and invest in the best AI stocks before the hype dies down. Luckily, many AI companies are cash-flow positive, generate massive revenue, and have been highly profitable this year.

As we head into the second half of the year, Joel Lim, a financial analyst at Tradequotex.com, has identified two highly promising AI stocks that investors should watch out for.

Micron Technology

Micron Technology is an American technology company based in Boise, Idaho. It specializes in producing computer memory and data storage devices, such as dynamic random access memory, flash drives, flash memory and USBs.

Data and data storage devices are integral to AI growth and sustainability, making companies like Micron Technology that produce these devices very important. With more and more companies abandoning physical infrastructure in favour of digital infrastructure, Micron technology is in a great position to profit. Hundreds of data centres are coming online each year, all of which need the storage devices that Micron Technology produces.

Furthermore, the demand for AI will exceed just businesses and become necessary for individual use. In this case, there will be a demand for AI-compatible mobile devices and personal computers, all of which will require more memory and data storage devices, to the direct benefit of Micron Technology.

Already, Micron Technology is performing impressively on the financial front. According to its latest quarterly report, the company’s revenue increased by 81% to $6.8 billion, courtesy of high product demand.

Joel Lim notes, “From all indications, Micron Technology has massive potential and could be a great investment for investors interested in AI stocks.”

Crowdstrike

Crowdstrike is an American cybersecurity company based in Austin, Texas. Its Falcon platform is an advanced cloud-native platform that uses AI-powered solutions to protect businesses and secure their endpoints, cloud workloads, data, identities and other vulnerability points through which breaches and attacks can occur.

Cybersecurity is becoming increasingly important to businesses, placing companies like Crowdstrike in a great position to profit. Besides, its Falcon platform is entirely cloud-based, allowing companies to add features as they need them. These additional features are available for sale, a strategy enabling Crowdstrike to generate more revenue.

Joel Lim notes, “Crowndtrike is poised to benefit greatly from the increasing demand for endpoint protection. It could provide a massive return on investment in the long run.”