Amid generative AI hype, focus on stocks enhancing products or gaining a strategic edge with Gemini AI stock predictions. Microsoft backs OpenAI, exploring AI-driven search. Investors await AI revenue insights from Apple, Microsoft, Meta, and Amazon.
Alphabet’s Gemini AI, though surpassed by other models, remains valuable for AI stock predictions. Despite Gemini’s growing conservatism, its insights still offer unique perspectives, especially in Gemini AI stock predictions. Analysts previously favored Bard for stock picking, outperforming humans. While Gemini AI stock predictions are less straightforward now, they remain a useful supplementary tool.
Currently, Gemini shows optimism for three particular stocks listed below.
Nvidia (NVDA)
Gemini AI stock prediction: As a leading player in artificial intelligence and graphics processing units (GPUs), Nvidia is at the forefront of technological advancements. With the growing demand for AI and high-performance computing, Nvidia has a strong potential for continued growth.
Gemini is right about Nvidia (NASDAQ:NVDA), it is the leader of AI and GPUs to date and the company is not showing any signs of defeat from its rivals. The tech giant is expected to beat its $28 billion revenue estimate in its next earnings call. Analysts predict a strong earnings report around August 28, with Goldman Sachs (NYSE:GS) noting potential gains from AI chip usage.
Now that the AI sector is growing more and more, the market is expected to reach $1.1 trillion. Nvidia leads in AI GPUs, holding a 90% market share, driving its recent impressive growth. The company’s AI Foundry solution is gaining traction, helping clients like Accenture and Uber build custom AI models without investing in costly hardware. This positions Nvidia for growth in cloud-based AI services, aiming for a $523 billion revenue by 2031.
Tesla (TSLA)
Gemini AI stock prediction: Tesla has revolutionized the electric vehicle market and continues to innovate. As the demand for sustainable transportation increases, Tesla’s market share and influence are likely to expand.
Tesla’s (NASDAQ:TSLA) stock surged 36% over the past month but remains down 7% year-over-year. Improving industry sentiment and potential rate cuts will drive a strong recovery. Tesla’s upcoming robotaxi reveal in October and advancements in AI could drive its valuation toward $1 trillion, according to Gemini AI stock predictions. Full self-driving tech may boost EPS by $1-$2 annually, and a new manufacturing process could cut production costs significantly, aiding Tesla’s market expansion.
Tesla, with a $791.65 billion market cap, is a key player in this space, creating advanced batteries and competing with giants like GM, Ford, and Volkswagen. Tesla’s 65% stock recovery in the past 3 months reflects strong Q2 2024 deliveries and record energy storage capacity. This positions it as a leading player in hyperloop technology.
Alphabet (GOOG, GOOGL)
Gemini AI stock prediction: As the parent company of Google, Alphabet dominates the search engine market and has a significant presence in cloud computing, advertising, and other digital services. Its ability to adapt and innovate positions it for long-term growth.
Nvidia’s market cap surged to $2.8 trillion, but Alphabet (NASDAQ:GOOGL) should not be overlooked. The company has been integrating AI into its Google Search since 2001 and has focused on AI since 2016. Alphabet’s early AI adoption and massive user base position it well to leverage AI advancements without needing a standout app, driving steady financial gains.
On the Q2 2024 earnings call, Pichai noted that Alphabet’s Gemini AI models were enhancing Google’s products. AI will play a key role in Google Cloud, strengthening Alphabet’s position as a vital partner. With $101 billion in cash and a P/E ratio of 26.4, Alphabet, with its strong tech resources and talent, is seen as a top AI stock to buy. EPS will grow by 19.4% from 2023 to 2026, according to estimates.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or
indirectly) any positions in the securities mentioned in this article.